Onus on US to propose new trade system

Jamieson Greer's declaration (New York Times op-ed on August 7) that the World Trade Organization system has now run its course, and a new "Turnberry system" should take over, is sparking repercussions in the global community.

- LEE JAE-MIN

Jamieson Greer's declaration (New York Times op-ed on August 7) that the World Trade Organization system has now run its course, and a new "Turnberry system" should take over, is sparking repercussions in the global community. After years of innuendos and insinuations, he finally points out the elephant in the room. As far as I can remember, this is the first time that a high-ranking official of the United States has officially mentioned a new "system" to replace the WTO instead of improving or reforming the Geneva-based international organization.

At least it seems to be a candid statement on the part of the United States after all the hype on a parade of tariff measures for the past seven months, and to expand it further, after all the US criticism and frustration directed at the WTO since 2016 when Washington began to block the appointment of adjudicators of the WTO's Appellate Body.

It is sad to hear of the possible demise of the 78-year-old system (counting from the General Agreement on Tariffs and Trade) from the member with the largest economy in the 166-member organization, and the very member who created it in the first place. Oddly enough, though, to some extent, it also feels relieving that we have a candid statement finally.

At least this remark could mark the beginning of the global discussion for an orderly retreat from the current regime and for the shaping of a new one.