US President Donald Trump has turned global trade relations upside down. However, globalization was already on a downward path before Trump, as a NZZ article shows. Together with three fellow economists, Ralph Ossa provides answers on the future development of trade policy in an interview with NZZ.
In the article, Ossa points out the precarious situation of the WTO, which is currently in an existential crisis and can no longer even fulfil its core tasks. Politicians are called upon to reform the WTO as quickly as possible. Asked about the future of the Swiss economy, Ossa stresses the essential importance of trade with Switzerland’s EU neighbors: “That is why it is so important to ensure stable trade relations with the EU or at least to be aware of the enormous costs of a serious disruption,” he says.
Read article (in German) on NZZ Online