Roberto Azevêdo quits as WTO chief a year early

Automatic TRANSCRIPT

The financial analyst and broadcaster. Lewis Kipah Good morning to you. Louise Morning Georgina. Big News from the World Trade Organization. Yes so the World Trade Organization is in the midst of an existential crisis that has just been made considerably worse because the head the boss of the WTO has just stepped down Roberto as US Bit of a surprise departure the World Trade Organization's been existence for twenty five years. It's been battered by president trump's criticism. It's been facet by the China America. Trade war it's been well. It's functioning has been significantly damaged by president trump's failure to allow another judge to go into court appellate body the judges world trade disputes that that Appellate Body Body doesn't have enough judges on anymore so is failing to function and of course now we've got the krona virus which is going to cause global trade according to WTO to full by about thirty percent this year. Which is catastrophic. Global trade has been increasing gear off year after year for decades. And you've got to remember. The origins of this came out of the Second World War. The push economist may not canes out of the desire to create a way for disputes. To be. You know. Get disgust rather while than anything more serious. And I'm a believer in free trade. I'm believe with the benefit that it does to us. Free Trade and there's plenty of economic rationale for the huge benefits to be accrued for for free trade and this is really quite depressing and really quite worrying about the future of this body that has done so much to improve the economic lives of so many around the world and is there anyone in the frame to take over who would want the job. Frankly he would want I mean on top of that we've also got the row currently between trump although he seems to row with everybody and Beijing about the phase one of the China. Us trade deal and he wants to go back and negotiate it. I mean frankly. I looked today as one. Commentator said it's not worth the paper it's printed on but even so it was something that could be waived as a sign of conciliation between the two sides.

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