Venezuelan President Nicolás Maduro has made a bold observation about the World Trade Organization (WTO), declaring that global trade is now ruled by the law of the jungle, with authority and regulations ignored.
Maduro emphasized that the WTO was “mortally wounded.” It is unclear when or if it will recover. He also added that the law of the jungle dominated international trade.
He offered a brief history lesson, noting that 80 years ago, the foundation of what would become the WTO was laid, establishing rules for trade cooperation and mutual respect among nations. Now, he warned, the organization lies gravely wounded, with unpredictable consequences.
According to Maduro, the current global trade war and the dismantling of international legal norms have created a scenario reminiscent of a jungle, where survival instincts trump cooperation. Maduro added that all major wars over the past millennium had their roots in deep-seated economic conflicts involving land and natural resources.
The rules once laid out by the WTO, offered a great opportunity for sovereign, peaceful, and prosperous coexistence among nations. But over time, both the rules and the authority of the WTO have been cast aside.
