(W.E.Talk) Former VP of World Bank stands against protectionism: G20 should be a focus to stop trade fragmentation

The 19th G20 Summit was held in Rio de Janeiro from Nov. 18 to Nov. 19. In the latest W.E. Talk, Otaviano Canuto, Senior Fellow at the Policy Center for the New South and former vice president and executive director at the World Bank, noted that the major challenge faced by the global economy now is about geopolitical nature, especially in clean energy. The rivalry between major powers has expressed itself into a wave of protectionist measures and trade-distorting policies, posing a threat to the benefits accrued from globalization.

Therefore, the G20 should be a focus to resist the temptation to resort to protectionist measures, according to Canuto. (Chen Tianhao)