Is Multilateralism the Answer to Preserving the Rules-Based Global Order? A CPTPP-Led Approach
It is evident that the world is changing. The strategic withdrawal by the United States from the global rules-based system has raised new questions about the future of global governance. Most nations continue to hold on to the principles of global collaboration, and for a good reason. The existing system has allowed for unparalleled economic growth in the post-World War II era through free trade. Can the rules-based system survive? I believe the existing global governance structure can be preserved through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP: A Shield and a Standard-Setter The CPTPP is one of the most sophisticated trade agreements in the world, encompassing free trade in goods and services, robust intellectual property protection, facilitated business travel, stringent labor standards, and government procurement opportunities. The trading block consists primarily of middle powers: Australia, Brunei Darussalam, Canada, Chile...