Trade Multilateralism Crumbles as Protectionism Surges Globally, Threatening Economic Stability
The global trading system is facing challenges with a decrease in multilateral cooperation and an increase in protectionism, especially from the US. The recent WTO Ministerial Conference didn't do much to help. Instead, countries are focusing more on bilateral and regional trade deals. After the financial crisis, protectionist measures have been on the rise. The US is leading the way with its protectionist policies, which are affecting the international order.