WTO Dir. General Admits the U.S. Has a Point, the Current Trade System with China Doesn’t Work

EXCERPT:

OKONJO-IWEALA: “Well, let’s put it this way. It is true that the U.S. has a point. There are aspects of the agreements that don’t work. So China joined the WTO in 2001, when many of these agreements that are in question were already negotiated. So what should have been done? It should have made sense that members should have renegotiated these agreements to take into account the number of new members joining, the structures they are bringing into the organization. But that’s my argument. There was no dynamism.”