WTO Director-General Azevêdo: Trade is not to blame for joblessness

In an interview with Nikkei Asian Review, Roberto Azevêdo, Director-General of the World Trade Organization (WTO), said that the majority of jobs lost are a result of new technologies, higher productivity and innovation, in contrast to the perception that trade leads to unemployment. “Without free trade, you’ll have a much more difficult time in getting out of the situation that we are [facing] today. It is like having an engine without oil. Trade is the oil that ensures the machine works well,” said Azevêdo.

For countries beset by high unemployment rates, Azevêdo said education and training are vital pieces of the puzzle.

The future of the global knowledge economy in an era of resurgent nationalism will be discussed at Asia House on 22 June in partnership with The University of Nottingham.