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2025-11-03 08:46:13
[New Zealand Prime Minister Laxson: Global Trading System Faces Severe Challenges as Economy and Security are Highly Intertwined] New Zealand Prime Minister Laxson stated that since the outbreak of the pandemic, the global trade environment has undergone significant changes, and the rules-based system that has benefited countries for decades is facing increasingly severe threats. "I think three major shifts are happening," Laxson told reporters at the APEC meeting in South Korea on Saturday. He said, "We are seeing a transition from rules-based to power-based; we are seeing a closer link between the economy and security; and third, we are seeing national-level resilience far outweighing global supply chain interconnectivity. Therefore, there is no doubt that the rules-based system that has worked for the past seven or eight decades is facing challenges." Laxson's remarks echo those of Canadian Prime Minister Mark Carney, who stated at the same meeting that the "old world" of rules-based trade and investment is "no longer there." Both New Zealand and Canada are seeking to strengthen trade and security ties in Asia to counter the protectionist policies of US President Donald Trump, who is rewriting global trade rules.
