Liz Truss, UK Secretary of State for International Trade.
On Wednesday (31), the UK will organize a climate and development summit, a virtual meeting of ministers from some 35 countries. The UK said it would push G7 allies to take more measures to ban “vicious practices” in trade, such as forced labor and theft of intellectual property, and to push for reform of the World Trade Organization (WTO) during the talks.
According to the Telegraph (The Telegraph) 30 reported that British International Trade Minister Elizabeth Truss (Liz Truss) will host a virtual meeting of the group’s trade ministers with the new WTO Director-General Ngozi Okonjo-Iweala (Ngozi Okonjo-Iweala) to discuss addressing issues such as climate change while while addressing unfair trade practices.
Ahead of the talks, Truss said the Chinese Communist Party has given global trade a “bad name” and she called for reform of the World Trade Organization to counter its pernicious practices.
“People can’t trust free trade if it’s not fair.” “Public trust has been corrupted by vicious practices, from the use of forced labor to environmental degradation and the theft of intellectual property,” Truss said in a statement before the meeting.
Truss stressed that the use of forced labor, the undermining of free trade through massive unreported subsidies, and the theft of intellectual property are areas that a revamped WTO must confront.
Truss also added that if no action is taken, international trade risks “falling apart under the greatest tyranny …… in which the big players feel they can make the rules” and that a “winner takes all A “winner-takes-all” future would leave millions of people around the world worse off.
In response to the rising threat from the Chinese Communist Party, Truss is also reportedly carefully considering a proposal by U.S. President Joe Biden that Western democracies create a global investment system to counter the Communist Party’s “One Belt, One Road” initiative.
On Tuesday evening, sources at WhiteHall in London said Truss expressed concern that the WTO “has been too soft on the Chinese Communist Party and has gone on too long” and that Truss Truss thinks that’s ridiculous.
In particular, Truss called on the United States to help reform the WTO and stressed that any reform should include a tougher stance on the CCP.
Since leaving the European Union and pinning its economic future on global trade, Britain has stepped up its criticism of the Chinese Communist Party’s vicious trade practices. The new WTO director, Okonjo Iweala, is confident in his leadership and has expressed a desire for reform to create a more effective trading system.
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