The global trading system is shifting toward a more complex form of multilateralism as the role of the patron nation diminishes and U.S. policy becomes increasingly volatile and unpredictable. Middle powers are seeking to reshape the rules, while China expands its role and maintains its distinct model. These shifts present challenges: uncertainty about the continuity of the old trading system, the erosion of dispute resolution mechanisms, and the growing politicization of standards. Future trajectories may range from a limited institutional reset to the emergence of competing regulatory blocs or continued but strained formal coordination. To read the full report, Click Here.
