Beijing has signaled its intent to drive WTO reforms forward, with Vice Commerce Minister Li Chenggang making a compelling case during a January 22 mini-ministerial in Davos. Under the stewardship of Swiss leader Guy Parmelin, the session convened delegates from about 30 nations – think US, EU, South Africa, and more – plus WTO head Ngozi Okonjo-Iweala.
Li painted a vivid picture of the WTO’s principles as lifelines for predictable trade growth worldwide. In an era of flux, he said, the organization’s significance is surging. Nations, he called on, need to collaborate on reforms that modernize the system, safeguard its potency, and amplify its sway in global economics.
Positioning China as a key proponent and participant, Li endorsed the 14th Ministerial push for concrete wins: a reform blueprint, WTO incorporation of investment pacts, broader duty waivers for e-transmissions, and robust food security measures.
The message was clear: China stands ready to dive deep into reforms, ensuring equitable distribution of benefits. Against a backdrop of trade wars and supply chain disruptions, this commitment underscores Beijing’s vision for a fortified multilateral order.
Post-meeting buzz in Davos suggests Li’s words could catalyze momentum. For businesses and policymakers, China’s buy-in offers hope for resolving deadlocks, potentially unlocking new avenues for fairer, more efficient international trade.