The EU and Germany have proposed to an alternative to the World Trade Organization (WTO) that better reflects European values and needs. This is a massive jolt to the post-World War II architecture built by America.
It is one of the biggest events of the post-pandemic world.
Two months ago, in Nikkei Asia, I argued that the WTO faces an uncertain future. Now, with the latest European proposal, global trade is entering a new twilight zone. Read my piece here.
Nobody should overlook what Europe is pushing for and where it could lead to.
This video examines five BIG consequences of Europe building its own structure to manage global trade.
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