Postwar Global Trading Order Stands at Critical Juncture

Tokyo, May 6 (Jiji Press)--The post-World War II global trading order is at a crossroads, and Japan, a country that lacks natural resources and has instead benefited from the free trade system, faces a daunting task of addressing the situation.

Neoliberalism, which aims to maximize profits globally based on market mechanisms, has caused hollowing-out of domestic manufacturing industries in many advanced countries.

In response, the United States and European countries are leaning toward protectionism, helping deepen divides among developed nations. In the meantime, China is maneuvering to boost its presence in emerging economies in the Global South.

U.S. President Donald Trump adopted a high tariff policy toward many other countries, including U.S. allies, after returning to the White House in January 2025.

Trump has voiced his ambition for the United States to own Greenland, an autonomous territory of Denmark, as part of efforts to secure natural resources. Early this year, the Trump administration conducted military strikes on Venezuela, which had been increasingly taking a confrontational stance against the United States.

[Copyright The Jiji Press, Ltd.]