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We need an international trade system fit for the 21st Century

Free trade can penalise countries that raise labour standards and regulatory thresholds, no surprise then that negotiations focus on levelling the playing field

We need an international trade system fit for the 21st Century
Photo: Simon Rawles / Photonica World / Getty Images

It is time to question whether the current international trade system is fit for the dynamics of our age.

In a world defined by the loss of trust (between the East and the West, the developing and the developed world, between populations and the political class, the working class and the elite and between people and technology) is it possible to continue operating with a trade system whose structure is based precisely on cooperation and trust? And more to the point, is the trade system able to cope with the pace of change that runs our world today?

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