Changing times demand bigger role in WTO

Editor's note: A number of experts spoke at a recent forum organized by the Center for China and Globalization and the Center for Strategic and International Studies to mark the 15th anniversary of China's entry into the World Trade Organization. Following are the views of some of those experts:

Wang Huiyao, president of CCG and a consultant to the State Council

Global governance in its existent form is facing challenges, so a new form of global governance is emerging. With the Doha Development Round of the WTO coming to a halt, the major economies, which are in dire need of new global trade rules, have accelerated the pace of talks among themselves through multilateral arrangements such as the Regional Comprehensive Economic Partnership, the Belt and Road Initiative (the Silk Road Economic Belt and 21st Century Maritime Silk Road), and the Transatlantic Trade and Investment Partnership.

China needs to make better use of these arrangements to be able to write new global trade rules, which in turn will propel its domestic reform forward, help it maintain its established priorities in global trade and expand the influence of its capital.

The United Kingdom benefited from the earlier stages of globalization, the United States did so from the later stages, and China is benefiting from the current stage. As such, China will continue to support globalization and will take the process forward.