At the WTO’s pivotal Davos mini-ministerial on January 22, China’s Li Chenggang, Vice Minister of Commerce and trade negotiation rep, delivered a robust endorsement of reforms to fortify the global trade guardian. Chaired by Switzerland’s Guy Parmelin, the event featured heavyweights from the US, EU, South Africa, New Zealand, South Korea, and 25 others, with Director-General Ngozi Okonjo-Iweala present.
Li extolled WTO rules as anchors of stability amid choppy trade seas, foundational to the multilateral system’s evolution. He stressed ramping up reforms to match today’s realities, maintaining institutional strength, and harnessing its global governance muscle through hands-on collaboration.
China’s track record shone through: a firm backer of multilateral trade, Beijing champions the 14th Ministerial for deliverables like a reform agenda, legalizing investment facilitation, tariff relief for digital flows, and food security advancements.
Li concluded with a firm vow: China will actively shape WTO reforms and share fruits with all. This comes as the world grapples with fragmentation risks, making China’s leadership pitch timely and strategic.
Davos takeaways point to renewed vigor for WTO renewal, with Li’s intervention potentially tipping scales toward consensus. For the global economy, sustained Chinese engagement could mean smoother trade flows, innovation boosts, and equitable growth in an interconnected yet fractious landscape.