[UNCTAD] US-China trade war: UNCTAD's stand

 Written by Global Times

A look into UNCTAD’s first day-What is UNCTAD's biggest concern over the issue, and how will they resolve it?

    In today’s first council session, many delegates expressed their concerns over the US-China trade war and how it has affected the world economy and, in some cases, their very own. The delegates have all expressed the urgency to resolve this issue, before it continues to further harm the global economy. Other concerns brought up by delegates included the fear that neither would the trade war end in the near future, nor would its repercussions.

    Many delegates have come up with a variety of solutions, but some are with seemingly ulterior motives. Delegates of Ukraine and India, as well as other delegates, have all come up with similar solutions, which were to diversify trade, buying from other countries other than China and USA. This appears to have the intent to make use of the current situation to promote their country, though none was explicitly stated. Our fellow delegate of China, on the other hand, has voiced out in her opening speech to have a framework in this situation, as well as her goal to reach for a common understanding with the USA on this matter. However, the delegate of the USA herself, has not made much noteworthy comments in relation to the topic itself, other than having agreed with the delegate of India’s statement-diversifying trade being a possible solution.

    Early on, some delegates had expressed their concerns regarding the COVID-19 issue, explaining the urgency for faster rates of vaccination to help improve the economy. The delegate of the USA had also pressed for vaccination, mentioning that it would help improve trade. However, later on in the discussion, the subtopic of vaccination did not seem to be brought up again.

    As the debate progressed, the delegates delved into the probable solutions towards helping undeveloped countries, as well as small businesses. The delegates focused particularly on this area, as the majority had felt that the negative impacts of the trade war affected them the most. Their solution-funding and subsidies towards these countries. Throughout the discussion, the majority of the countries have come to a consensus to provide funding to help underdeveloped countries and small businesses affected. The delegate of China herself had also mentioned her keen interest in helping to fund, bringing up the example in which China helped other countries in the past, such as Sri Lanka, not only economically, but has also helped in building their infrastructure.
    
    After many rounds of discussion, the focus of the topic seemed to have shifted from coming up with funding and subsidies for third parties affected to a heated discussion about the terms to be used-fair trade or free trade. Fair trade, defined as an arrangement to have fair and equal trade as the term itself suggests, or free trade, defined as a trade policy that does not restrict imports or exports. While it can be seen that these two terms are clearly two different, the UNCTAD has appeared to have gotten off track, giving the impression that they do not know what they want. Delegates should be reminded that the main point of the entire discussion is to manage the domino effects of the US-China trade war, and engaging in heated debate over the terminology should not be the main focus.

    Though there are still many areas to work on, delegates should take note of having a more structural debate, so as to facilitate a much more efficient discussion. At this point of time, delegates should make clear their priorities, and the efficiency and sustainability of their solutions.

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