Nigeria’s nominee to become global trade chief is casting herself as the peacemaker who can push the U.S. and China to find common ground
, the top global court for trade disputes, effectively bringing the WTO system to a halt.
China’s insistence that it is entitled to the plum trading benefits afforded to a “developing country” is a red rag to U.S. President Donald Trump, and Okonjo-Iweala acknowledged there was a gulf to address between what richer and poorer developing nations were getting out of the globalized trading system.
She stressed that her experience from two stints as Nigeria’s finance minister had given her the political skills to broker big trade-offs in Geneva. She also argued her background as a development economist convinced her of the value of trade — as opposed to aid — as a way of lifting countries out of poverty.
While sidestepping the opposition from Egypt, Okonjo-Iweala suggested that Nigeria’s goals ultimately aligned with Africa's more widely. “With respect to the AU, what the AU wants is what my country wants ... Nigeria is trying to put its best foot forward and I believe that the AU wants the best candidate that can do the best to bring the job to Africa.”
“So what is it that we can look at within the WTO and the world trading system that can strengthen and benefit African countries? They’ve just negotiated the African Continental Free Trade Agreement, which is a milestone.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. senators introduce new bill to punish Chinese technology theftA bipartisan pair of U.S. senators on Thursday introduced legislation that would require Republican President Donald Trump to more systematically punish China for stealing U.S. technology.
Read more »
Brussels plans to counter Chinese and U.S. subsidiesBrussels is looking to crack down on non-EU governments such as China and the U.S. when they grant subsidies of more than €200,000 to companies that operate in Europe's single market
Read more »
Trump is reportedly looking to blame Mexico for new coronavirus spikes in the US - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
U.S.'s Pompeo to meet China's top diplomat in Hawaii seeking to ease tensions: mediaU.S. Secretary of State Mike Pompeo will meet China's top diplomat Yang Jiechi in Hawaii, trying to ease tensions between the world's two largest economies over various issues, according to media reports.
Read more »
China influence in Southeast Asia is growing — and the U.S. has some catching up to doA survey conducted by the Center for Strategic and International Studies found that China has edged out the U.S. in political and economic influence in Southeast Asia.
Read more »
If Trump loses, will he go quietly? Biden fears notSpeaking to comedian Trevor Noah, the Democratic candidate for the US presidency said he fears the Republican would try to steal the election if he loses in November.
Read more »