US-China style trade wars could proliferate without WTO ‘reinvention’, says Korean candidate Yoo Myung-hee

Tariff battles like the US-China trade war could become more widespread should global trade’s governing body “fail again to reinvent itself”, warned South Korea’s trade minister and candidate to lead the World Trade Organisation (WTO).Yoo Myung-hee said that the dysfunction at the WTO might be partly to blame for the trade spat which has run for more than two years, and has helped usher in a period of wider rivalry between the world’s two largest economies.“Perhaps their trade tensions are to…

from South China Morning Post https://www.scmp.com/economy/china-economy/article/3099575/us-china-style-trade-wars-could-proliferate-without-wto