![]() ![]() The end of scarcity: A silent threat to US well-being Juan Williams: Kevin McCarthy would be a weak, disastrous Speaker None of these claims has ever panned out. History is replete with claims that the logic of free trade falls flat against something newer and better. Second, populism, regardless of the clever name it’s given in capitol, is just protectionism, plain and simple. But the WTO can lessen this risk of “ hold-up,” and is part of the answer, not the problem. There’s always political risk, as Adam Smith pointed out in “The Wealth of Nations.” A pandemic, like a war, can wreak havoc for supply chains. First, neither COVID nor the war in Ukraine has undone the logic of free trade. Okonjo-Iweala needs to frame an aspirational narrative around three points. MC12 should have been postponed again because of the war in Ukraine, given that the institution lacks even the language to help members vent their anger at Moscow. Rather, the main topic of conversation will be suspending, or even expelling, Russia from the WTO. Little about the meeting is shaping up to be about aspirations. Okonjo-Iweala needs to use her bully pulpit to speak directly to “the aspirations of the people.” But daily briefings on whether the various committees made progress won’t do the trick either. Presumably the idea is to minimize pomp and circumstance so that members don’t have be photographed with Russia, if Russia shows up. The word out of Geneva is that the meeting will be “streamlined, business-like,” whatever that means. But how can MC12 possibly get this messaging right? I am therefore postponing this meeting until further notice during which period I will continue to undertake consultations with delegations.The WTO’s director-general, Ngozi Okonjo-Iweala, says that “What the world needs right now is a responsive WTO, one that helps us meet the many challenges of our time and delivers on the aspirations of the people we serve.” Amen. WTO General Council Chairman David Walker issued a separate notice that said: “It has come to my attention that for reasons including the health situation and current events, delegations will not be in a position to take a formal decision on 9 November. The Trump administration’s move has disrupted the leadership race because all WTO decisions are made by a consensus of its 164 members, which means a single country can oppose a decision for any reason. unilaterally opposed Okonjo-Iweala despite the fact that the WTO selection committee determined she “clearly carried the largest support by members” and “clearly enjoyed broad support from members from all levels of development and from all geographic regions.” Yoo has refused to withdraw from the race and has not responded to multiple requests for comment. preferred South Korean Trade Minister Yoo Myung-hee for the job. The delay comes a week after the Trump administration said it would oppose Okonjo-Iweala’s bid because the U.S. The statement obtained by Bloomberg said that the meeting would be postponed until further notice and that the chairman of the WTO general council will continue to consult with members about selecting the next director-general. The decision will delay the WTO’s ability to confirm Nigeria’s Ngozi Okonjo-Iweala as the first African and first woman to lead the organization in its 25-year history. The World Trade Organization postponed a general council meeting set for Monday where members were expected to review whether to select their next leader, according to a notice circulated Friday. ![]()
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