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Business Daily

Fixing world trade

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 16 July 2020

⏱️ 18 minutes

🧾️ Download transcript

Summary

Trade wars have blighted the global economy in the last four years. What will it take to restore order?

Much will depend on who takes over the leadership of the World Trade Organisation, the institution tasked with guiding and policing the rules-based global trading system. There are eight official candidates for the WTO top job.

We speak to Mexico’s candidate, Jesus Seade, about how - and what - needs fixing, with commentary from the BBC’s economics correspondent Andrew Walker.

(Photo: WTO director general candidate Jesus Seade; Credit: Getty Images)

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to Business Daily from the BBC with me, Manuela Saragossa.

0:06.5

Coming up, the man who says he can save the rules-based global trading system.

0:11.0

We must protect and salvaging.

0:13.2

What we have now is a more stark danger of things going wrong.

0:19.7

That facing the abyss is what I hope will electrify everybody into

0:24.5

action. Yesosiyade is Mexico's candidate to be the next Director-General of the World Trade

0:29.6

Organization. He tells us why who leads the institution now matters more than ever. That's here

0:35.6

in Business Daily from the BBC.

0:40.3

The nominees held from Moldova to Saudi Arabia to the UK, and all of them are in Geneva

0:46.3

this week at the headquarters of the World Trade Organisation. They're there to make their

0:51.1

case as the WTO's next leader. Regular listeners will know that here on Business Daily,

0:56.4

we've already heard from two other candidates for the top WTO job,

1:00.3

Nigeria's Dr. Angosio Condo Iweila and Egypt's Hamid Mamdou.

1:04.6

They've now joined six others,

1:06.4

including the UK's Liam Fox and, of course, Mexico's Jesus Seade,

1:10.5

onto the official list of nominees.

1:12.9

I caught up with Mr. Seade on the line from Geneva and started by asking him if all the candidates

1:18.3

are being friendly with each other. The only one that I have properly met is Liam Fox. It was a

1:26.3

very nice encounter. It was not an arranged meeting. We were in the same

1:31.1

hotel having individual loving exercises. And as I was walking out, I saw that Liam Fox was sitting there.

1:38.7

And in my usual style, I walked straight to him and said, hello, I'm a candidate.

1:45.2

And it was very friendly.

...

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