Ngozi Okonjo-Iweala, the head of the World Trade Organization, called on China to change its model of growth because of its impact on global trade surpluses.
Speaking at the Munich Security Conference, she said that while China wants to support the global multilateral trading system and benefited from it in the past, “the export-led growth model that drove China’s growth for the past 40 years cannot drive China’s growth for the next 40, and the $1.2 trillion trade surplus is not sustainable. Because the rest of the world cannot absorb it.”
