A disrupted global trading system and the future of multilateralism

The current global trade order is disrupted for many reasons. The Covid-19, the Russian war against Ukraine and the all-front tariff war initiated by the United States are most outstanding factors to the disrupted global trade flows. This paper discussed shaping factors of and presented four scenarios for the future development of mullateralism. A fundamental policy reorientation is needed for the functioning multilateral trading system to be restored within a foreseeable future. A special attention should be given to both the US return to multilateral approaches in its trade policy and the preservation of liberal trade policy by the US major trading partners