{"id":21142,"date":"2023-09-05T18:46:15","date_gmt":"2023-09-05T18:46:15","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism"},"modified":"2023-09-05T19:56:50","modified_gmt":"2023-09-05T19:56:50","slug":"wto-chief-criticizes-rich-nations-for-protectionism","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism","title":{"rendered":"WTO chief criticizes rich nations for protectionism"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>The head of the World Trade Organization sharply criticized western governments for embracing protectionist policies and shifting toward a power-based global trading system.<\/p>\n

\u201cRecent unilateral protectionist measures by some developed countries coupled with a more general reticence about the multilateral trading system and the WTO is seen as cynical and hypocritical by developing countries,\u201d WTO Director-General Ngozi Okonjo-Iweala said Monday at a conference in Berlin.<\/p>\n

\u201cThe latter feel that rich countries who have benefited immensely from the multilateral trading system to develop their economies now no longer want to compete on a level playing field and would prefer instead to shift to a power-based rather than a rules-based system,\u201d she said.<\/p>\n

A wonderful start to the day in Berlin. Addressing the Annual Conference of German Ambassadors on the topic of North-South Engagement in A Changing World. With Federal Minister for Foreign Affairs H.E Annalena Baerbock @ABaerbock. #BoKo2023 pic.twitter.com\/wNWPIbUqfe<\/p>\n

\u2014 Ngozi Okonjo-Iweala (@NOIweala) September 4, 2023<\/p>\n

Though Okonjo-Iweala didn\u2019t single out any country, US administrations under Presidents Joe Biden and Donald Trump have called for more domestic production in key industries and a larger focus on economic security \u2014 after more than a quarter-century of American policy fostering globalization.<\/p>\n

Okonjo-Iweala, who is a dual American and Nigerian citizen, encouraged western economies to shift production facilities into nations from the global south as a way of building resilience in global supply chains after three years of historic disruptions.<\/p>\n

\u201cThe right response is to de-concentrate, diversify and deepen global trade by bringing more countries and communities from the margins to the mainstream,\u201d she said. \u201cExtending global production and trade networks to Africa, Latin America and Asia would make them simultaneously more resilient to localized shocks and more inclusive in socio-economic terms.\u201d<\/p>\n

Okonjo-Iweala commended the European Union for investing in vaccine manufacturing in Africa. At the same time, she urged European leaders to help find \u201crational solutions\u201d to address migration flows from Africa.<\/p>\n

Climate Finance<\/b><\/p>\n

Okonjo-Iweala highlighted the contrast between China and America\u2019s infrastructure loans to countries in the developing world.<\/p>\n

She cited academic research that found China\u2019s Belt and Road Initiative provided $428 billion in finance to developing countries between 2013 and 2017. \u201cIt is a reality across the African continent, for example, that people see the impact of new or improved physical infrastructure built with Chinese assistance,\u201d she said.<\/p>\n

\u201cMany developing countries are open to outreach from the West,\u2019 she said. \u201cWestern values are still admired and treasured, but the combination of limited funds with a lot of conditionality has been less than attractive.\u201d<\/p>\n

Okonjo-Iweala also faulted western governments for failing to offer sufficient financing to help developing countries transition to green economies as a means to reduce the effects of climate change.<\/p>\n

\u201cWestern governments have missed an opportunity,\u201d she said. \u201cFalling short on climate finance pledges was not just bad for people on the planet, it sent a damaging political signal.\u201d<\/p>\n

WTO Reform<\/b><\/p>\n

German Foreign Minister Annalena Baerbock acknowledged that the west is \u201cnot perfect\u201d and said a more critical analysis of Europe\u2019s trade policies would help make the 27-nation trading bloc stronger.<\/p>\n

Baerbock, who was hosting the conference at her ministry, told attendees that the WTO is an important forum to help solve problems that arise amid tensions between the US and China.<\/p>\n

\u201cWe are working toward this with all our power,\u201d Baerbock said. \u201cWe will also continue to seek new ways forward with difficult partners, even if we are not in agreement on all issues.\u201d<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. The head of the World Trade Organization sharply criticized western governments for embracing protectionist policies and shifting toward a power-based global trading system. \u201cRecent unilateral protectionist measures by some developed countries coupled with a more general reticence about the multilateral trading system and the WTO is seen as cynical and hypocritical by […]<\/p>\n","protected":false},"author":84,"featured_media":21141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[242,243,233],"class_list":["post-21142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nWTO chief criticizes rich nations for protectionism - Eritrea<\/title>\n<meta name=\"description\" content=\"The head of the World Trade Organization sharply criticized western governments for embracing protectionist policies and ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WTO chief criticizes rich nations for protectionism\" \/>\n<meta property=\"og:description\" content=\"The head of the World Trade Organization sharply criticized western governments for embracing protectionist policies and ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-05T18:46:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-05T19:56:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/09\/sm_1693927457.113813.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"WTO chief criticizes rich nations for protectionism\",\"datePublished\":\"2023-09-05T18:46:15+00:00\",\"dateModified\":\"2023-09-05T19:56:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism\"},\"wordCount\":596,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/09\/sm_1693927457.113813.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Eritrea\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/wto-chief-criticizes-rich-nations-for-protectionism\",\"name\":\"WTO chief criticizes rich nations for protectionism - 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