The Global Trade Impasse: The Chinese Leadership Conundrum

China’s time to lead the WTO has come.

By Jean-Pierre Lehmann, July 7, 2014

Takeaways

• China has no choice. If it does not assume leadership in the global trading system, it will possibly collapse.
• China is extremely reluctant to assume a leadership position in global trade.
• The “Bali package” was described by one expert as “1% substance, 9% promises, 90% PR”.
• Washington or Brussels are not likely to be the ones bring the trade agenda back to the WTO.
• China desperately needs and depends on a global rules-based regime.
  
• It is now clear that the three mega-traders on the global stage are the EU, the US and China.
• China’s ascension to mega-trader (and increasingly mega global investor) is the contemporary mega-event.