The WTO at 30

World Insight with Tian Wei

Since the signing of the Marrakesh Agreement that founded the World Trade Organization on April 15 in 1994, global trade has surged to over 30 trillion U.S. dollars in 2023. That's a fivefold increase since 1995. Tariffs have also gone down under the WTO, resulting in lower trade costs. China, for its part, has opened up to trade in the last 23 years, since joining the WTO. It has managed double-digit growth over the decades, benefiting its people and the world. Thirty years after the WTO's founding, how well has the organization carried out its mission? And, how can China better contribute to a more inclusive and free world trade?