Emerging economies have shifted the balance of power in world trade

26 November 2012

Pascal Lamy

The rising weight of influence of emerging economies has shifted the balance of power. This clearly implies a number of transitions to which we have not yet adjusted as classic Westphalia concepts of sovereignty are being challenged by the realities of interdependence. Some may consider this a problem, it is perhaps better to think of it as an opportunity to look at the real shaping factors of trade.

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World Trade Organisation Director-General Pascal Lamy was presenting the Richard Snape Lecture in Melbourne, Australia