Editorial: Le Monde

• The modest aims of the WTO summit in Abu Dhabi sharply contrast with the ongoing shifts in international trade.
• Trade tensions are increasing between the world's main trading zones: the US, the European Union (EU), and China.
• The US has weakened the WTO in favor of replacing multilateralism with the law of the strongest.
• US protectionism has not completely curbed China's rising influence.
• US sanctions have prompted China to seek alternatives, stepping up its industrial production.
• The European Union is uncertain about the strategy to follow in face of increasing Chinese production.
• Europeans are testing a range of measures, including anti-dumping investigations and a border carbon levy.
• China is attempting to foster divisions within the European Union.
• The European Union is the most vulnerable area due to its dependence on multilateralism rules.

Conclusion: The gap left by the weakened WTO needs to be filled. Trade tensions are taking on a strategic and geopolitical dimension that can escalate. It's paramount to set up a new framework for guiding macroeconomic coordination before imbalances become unmanageable.

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