Ngozi Okonjo-Iweala: What the World Risks if It Abandons Globalization | Foreign Affairs Interview

Foreign Affairs invites you to listen to its podcast, the Foreign Affairs Interview. This episode with Ngozi Okonjo-Iweala was originally published on August 24, 2023.
After World War II, an idea took hold: economic interdependence between countries would help prevent war. But lately, faith in this idea has wavered, and terms like “decoupling,” “friend shoring,” and “de-risking” are dominating the debates around trade in Washington and beyond.
Ngozi Okonjo-Iweala, director general of the World Trade Organization, disagrees with key elements of this new consensus. She thinks that policymakers are misdiagnosing the problems that the world faces, and that they risk setting us on a dangerous course-one that could break the global economy and leave the world both less prosperous and less secure.
We discuss why views on global trade have changed so dramatically in recent years, China’s integration into the global trading system, and what would happen if the world fragmented into two trading blocs.
Sources for the episode:
“Why the World Still Needs Trade” by Ngozi Okonjo-Iweala
www.foreignaff...
“The Great Convergence” by Branko Milanovic
www.foreignaff...

[@Mimi-up5ro]

With all the different technology and ideology out there today, globalization is not just crucial for business prosperity, but for national security as well. From climate crisis to the kind of news about Elon Musk, the balancing act has been off for many years now. He's not supposed to be held responsible for such power. This shouldn't have happened. It is a government's job to be able to regulate and avoid this kind of risk/problem especially when it involves other countries' safety as well. These inventions are supposed to work to strengthen, not work against its own government/country. By each country working to strengthen their diplomatic ties, these inventions are supposed to bring security and prosperity. We focus a lot on development and making profits, but at what cost? Are we inviting another form of climate crisis? We already have dozens of those problems.

[@W_Bin]

Astute woman. Subsidies mis-used that could move everyone forward.

[@barbarahunc1357]

Very open minded and educational discussion. Thank you , With all the respect!

[@kuttermcneil1520]

By partnering with China and "derisking" as opposed to "decoupling" are we not funding and supporting the things they do that go against not just US values but also western values? China has not become a better place by the west giving it more economic opportunities. Instead we've entrenched and allowed a new type of authoritarianism to take hold. Why cant we derisk globally and decouple from china?

[@nathanngumi8467]

Very insightful discussion!

[@joe18750]

I expect nothing more from a professional bureaucrat and leftist.