The US is posing possibly an existential threat to the global rules-based trading system, a group of representatives from emerging economies said on Wednesday, warning that its aggressive tendencies threatened the health of the global economy.
Kamal Nath, the chief minister of Madhya Pradesh in India and a former commerce minister, said the world outlook was very concerning. “The new global order is the global disorder, not merely in trade,” he told an audience in a panel at the World Economic Forum in Davos.
“We’re heading towards the collapse of the world trading order,” he added. “It is the US which led the WTO, I was the commerce minister for many years and the US always said we are the leaders of free market and the world trading order and now they’re leading the world in making the global trading order collapse.”