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The World Trade Organization is in its deepest crisis since its creation. This requires multilateral collaboration and innovative and interdisciplinary solutions. The goal should not be to try to re-establish the status quo but rather to adapt the world trading systems to the realities and necessities of the 21st century and the new geopolitical context. What is needed is a WTO 2.0 that responds to the world’s peace, health and environmental challenges and proactively contributes to solving them.

This paper explores whether COVID-19 may have affected the traditional means illicit groups have used to launder their ill-gotten profits processes through three main channels: increased reliance on cryptocurrencies to move and launder funds tied to illicit activity; the expanded use of the internet through e-commerce sites to continue and expand trade mispricing practices to move illicit funds; and the use of FinTech and peer-to-peer payment services to transfer illicit funds.

Exploring future trade policy through issues such as the green transition, labour standards, human rights, the role of the WTO, and non-trade policy objectives.

Balancing globalization and sovereignty

The decision in 1971 to suspend the convertibility of the US dollar into gold has lessons for addressing the challenges faced by the modern international economic system.

With Germany and Japan next in line for leading the G7, these two champions of global trade should continue to carry the baton of a separate trade track.

President Biden clearly wants US foreign policy focused on the Asia-Pacific but, without managing the Middle East, achieving his aim appears unlikely.

With more than $4 trillion already promised focused on workers, inequality, and sustainability, a transformative approach could spell the end for neoliberalism.

The proposed global minimum rate could release large economic gains and help reduce popular distrust against multinational companies.