Continuing to browse our website indicates your consent to our use of cookies. For more information, see our Privacy policy.

What we are reading

The prospects for WTO reform


Published 03 October 2023

World leaders are talking about reforming the World Trade Organization (WTO), but what are the prospects for change? Who are the leading participants in developing critical technologies? Explore our reading list for the latest developments in global trade.

Multilateralism and WTO reform

US Trade Representative Katherine Tai and WTO Director-General Ngozi Okonjo-Iweala discussed why the developing world and everyone else need trade and WTO at a CSIS event this week. A few days later, China’s President Xi Jinping presented his views on the WTO in a Politburo study session reports the People’s Daily, as translated by Manoj Kewalramani. The Friends of Multilateralism note the underappreciated benefits of multilateral rules-based trade. Meanwhile, global trade volumes are sliding fast, per the Financial Times. 

Mentioned publications

  1. Why the Developing World and All of Us Need Trade and the WTO – USTR Katherine Tai and WTO Director-General Ngozi Okonjo-Iweala, CSIS Event, September 22, 2023
    The US Trade Representative and the head of the WTO debate WTO reform. 

  2. Politburo Discusses Inspections & China's Approach to WTO - Understanding the 'Common values of Mankind' Pitch - Wang Yi on EU's EVs Probe - Chinese-style Modernisation & National Security – Manoj Kewalramani, Tracking People’s Daily, September 28, 2023
    Chinese President Xi's response on WTO reform. 

  3. The Underappreciated Benefits of Multilateral Rules-Based TradeFriends of Multilateralism, September 2023
    Five important benefits of the multilateral trading system. 

  4. Global trade falls at fastest pace since pandemic – Valentina Romei, Financial Times, September 26, 2023
    Trade volumes in July fell at their fastest pace in three years. 

🠕 Back to top

Contest over critical technologies

Vietnam is building a more attractive market for semiconductor investment, writes Arrian Ebrahimi in the Diplomat. Chip-related investments in Malaysia are growing, per Nikkei Asia.  South Korea is torn between Chinese and US demands over chips, reports the New York Times. The Biden Administration announces final guardrail rules on ties between CHIPS Act subsidies and investments in China.  The Australian Strategic Policy Institute publishes a critical technology tracker. India is requiring companies to register imports of computers, tablets, and hardware to encourage domestic manufacturing, says Bloomberg. Vietnam seeks to make a dent in China’s rare earths dominance, suggests Reuters. 

Mentioned publications

  1. US Chipmakers March South as Vietnam Subsidizes Its Tech Future – Arrian Ebrahimi, The Diplomat, September 18, 2023
    Vietnam wants to become a bigger player in chip manufacturing. 

  2. Malaysia aims for chip comeback as Intel, Infineon and more pile in – Cheng Ting-Fang and Lauly Li, Nikkei Asia, September 29, 2023
    FDI in Malaysia is reaching record levels, largely thanks to chips investments. 

  3. What the U.S.-China Chip War Means for a Critical American Ally – John Liu and Jin Yu Young, The New York Times, September 27, 2023
    On chips, South Korea finds itself caught between the US and China. 

  4. Biden-Harris Administration Announces Final National Security Guardrails for CHIPS for America Incentives ProgramUS Department of Commerce, September 22, 2023
    The US issues the final guardrail rules implementing the CHIPS Act. 

  5. ASPI’s Critical Technology Tracker - Sensors & Biotech updates – Dr Jamie Gaida, Dr Jennifer Wong Leung, Stephan Robin, Danielle Cave, and Dannielle Pilgrim, Australian Strategic Policy Institute, September 22, 2023
    A database of the leading researchers and research centers for critical technologies. 

  6. India Loosens Planned Restrictions on Laptop, Tablet Imports – Bloomberg, September 25, 2023
    Companies will be required to register imports of laptops, tablets and other IT hardware. 

  7. Inside Vietnam's plans to dent China's rare earths dominance – Francesco Guarascio and Khanh Vu, Reuters, September 25, 2023
    Vietnam has the world’s second largest deposit of rare earths. 

🠕 Back to top

New dialogues with China

The US and China announced new working groups focused on commercial issues and export controls and new dialogues on economic and financial issues, while China and the EU have agreed on an export controls mechanism.  Will these steps help reverse the poor outlook Western firms have towards China’s economy, as reported by Bloomberg and recorded in new papers from the EU Chamber in China and the American Chamber in Shanghai

Mentioned publications

  1. Readout of Secretary Raimondo's Meeting with Minister of Commerce of the People's Republic of China Wang Wentao US Department of Commerce, August 28, 2023
    The US and China take first steps toward re-establishing regular commercial dialogues. 

  2. Treasury Department Announces Launch of Economic and Financial Working Groups with the People’s Republic of ChinaUS Department of Treasury, September 22, 2023
    The US and China announce new economic and financial working groups. 

  3. China and EU agree export controls ‘mechanism’ to ease trade tensionsFinancial Times, September 25, 2023
    China and the EU establish a dialogue on export controls. 

  4. Western Firms in China Are Historically Glum About OutlookBloomberg, September 19, 2023
    US and EU Chamber surveys find optimism about China among Western companies at historic lows. 

  5. European Business in China Position Paper 2023/24European Chamber of Commerce in China, September 20, 2023
    The EU Chamber of Commerce offers recommendations for fostering a better economic climate. 

  6. 2023 China Business ReportAmerican Chamber of Commerce in Shanghai, September 19, 2023
    Companies’ optimistism about the five-year business outlook in China fell to a new low.

© The Hinrich Foundation. See our website Terms and conditions for our copyright and reprint policy. All statements of fact and the views, conclusions and recommendations expressed in this publication are the sole responsibility of the author(s).

BACK TO TOP