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	<title>economic governance &#8211; The Milli Chronicle</title>
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		<title>WTO faces inflection point as EU, CPTPP call for sweeping overhaul</title>
		<link>https://millichronicle.com/2026/03/64169.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 27 Mar 2026 16:11:58 +0000</pubDate>
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					<description><![CDATA[Geneva — The World Trade Organization is at a “critical juncture” and requires deep, structural reform, the European Union and]]></description>
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<p><strong>Geneva</strong> — The World Trade Organization is at a “critical juncture” and requires deep, structural reform, the European Union and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) said on Friday, citing mounting challenges to the multilateral trading system.</p>



<p>In a joint statement, the groups warned that persistent institutional paralysis, rising protectionism and unresolved disputes risk undermining the WTO’s core functions, including its ability to negotiate new rules and enforce existing ones. </p>



<p>They said urgent action was needed to restore credibility and ensure the organization remains responsive to modern trade realities.</p>



<p>Officials highlighted the continued dysfunction of the WTO’s dispute settlement mechanism, particularly the paralysis of its appellate process, which has limited the body’s capacity to deliver binding resolutions in trade conflicts. </p>



<p>They called for a fully operational and accessible system to uphold rules-based trade.</p>



<p>The statement stressed the need to update WTO frameworks to address emerging areas such as digital commerce, industrial subsidies and supply chain resilience. </p>



<p>The EU and CPTPP members said current rules do not adequately reflect evolving global trade patterns or technological change.</p>



<p>The groups reaffirmed their commitment to a rules-based international trading system, warning that fragmentation into competing trade blocs could weaken global economic stability. </p>



<p>They urged broader membership engagement to advance consensus-driven reforms.</p>



<p>The WTO, established in 1995 to oversee global trade rules, has faced increasing pressure in recent years amid geopolitical tensions and shifting economic priorities among major economies.</p>
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		<title>China Calls for Stronger Global Cooperation as Record Trade Surplus Highlights New Opportunities</title>
		<link>https://millichronicle.com/2025/12/60477.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Tue, 09 Dec 2025 14:07:13 +0000</pubDate>
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					<description><![CDATA[Beijing &#8211; China has renewed its call for open global trade and economic cooperation as its record trade surplus sparks]]></description>
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<p><strong>Beijing</strong> &#8211; China has renewed its call for open global trade and economic cooperation as its record trade surplus sparks discussions across international markets.</p>



<p>The country emphasized the importance of resisting tariff pressures and protecting the stability of global supply chains during a major economic dialogue in Beijing.</p>



<p>Premier Li Qiang urged global partners to avoid rising protectionism, stressing that cooperation remains the foundation of steady worldwide growth.</p>



<p>He said the global economy faces heavy strain from new trade restrictions, making it essential for governments and international organizations to safeguard free trade.</p>



<p>China met with leaders from major global institutions, including the IMF, World Bank, WTO, OECD and ILO, highlighting the need for better global governance.</p>



<p>The message focused on promoting fair competition, supporting emerging economies and ensuring that global markets remain open and accessible.</p>



<p>Li noted that increasing tariffs around the world are disrupting trade flows and affecting economic activity across developing and developed nations alike.</p>



<p>He reiterated that all countries benefit when supply chains function smoothly and when businesses can access overseas markets without excessive barriers.</p>



<p>China’s record trade surplus, driven by strong exports to Europe, Australia and Southeast Asia, has brought renewed attention to its role in global commerce.</p>



<p>While some nations call for reforms to balance global consumption, China stressed that it is committed to boosting domestic demand and diversifying its economic model.</p>



<p>Global leaders have recently engaged China on these issues, signalling the need for continued dialogue to prevent economic tensions from rising.</p>



<p>China, in turn, emphasized that long-term stability will come from collaborative efforts rather than unilateral tariffs or restrictive trade measures.</p>



<p>Experts say China’s push to expand trade ties with non-U.S. markets reflects its broader ambition to strengthen global commercial partnerships.</p>



<p>This diversification strategy is expected to create new investment opportunities, encourage innovation and support long-term economic resilience.</p>



<p>Analysts also note that China’s growing market offers vast potential for global companies looking to expand their presence in Asia.</p>



<p>With continued growth expected over the next five years, domestic demand may gradually help ease trade imbalances and create a more balanced global economy.</p>



<p>China reaffirmed its commitment to reforms that support sustainable development and high-quality economic expansion.</p>



<p>Officials highlighted ongoing investments in technology, infrastructure and green industries to ensure the economy remains competitive and resilient.</p>



<p>While some economists believe further policy adjustments could help stabilize global trade, most agree that cooperation is far more effective than confrontation.</p>



<p>They stress that coordinated action among major economies will help mitigate risks and promote shared prosperity.</p>



<p>China stated that it will continue to maintain open communication with its global partners and contribute to international economic stability.</p>



<p>Its leaders expressed confidence that dialogue, fairness and mutual respect will guide future trade discussions and reduce friction between major economies.</p>



<p>As global markets navigate complex geopolitical and economic challenges, China’s message focused on partnership rather than pressure.</p>



<p>The country called on all nations to work together to preserve free trade, reduce uncertainty and strengthen the global economic system.</p>



<p>By promoting cooperation and constructive engagement, China hopes to reassure investors, encourage innovation and build long-term trust across global markets.</p>



<p>The message underscored the need for shared responsibility in shaping a more balanced, open and prosperous international economy.</p>
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