THE global economy faces profound uncertainties, particularly in the face of the COVID-19 pandemic. In addition, faith in the efficacy of international bodies such as the World Trade Organisation (WTO) has been weakened by a power struggle between China and the US.
As the process for appointing a new head of the organisation moves into its final phase, it’s worth considering what front runner Ngozi Okonjo-Iweala could bring to the complex role of managing an international organisation, including designing and implementing reforms.
The WTO describes itself as a forum for governments to negotiate trade agreements. A key objective of the WTO is the liberalisation of trade for the mutual benefit of its members. This concept has become a divisive issue as a result of the perceived imbalances in the rights and obligations of members and the perceived uneven distribution of the gains from trade.
Okonjo-Iweala would be in a position
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