WTO Wants More Globalization and Asks How to ‘Redesign Global Financial Architecture’ in Name of Climate Change

The headquarters of the World Trade Organization (WTO) is seen in Geneva, Switzerland, on Dec. 11, 2019. (Robert Hradil/Getty Images)

The World Trade Organization (WTO) has published its 2022 edition of the World Trade Report, which pushes for more globalization and a shift away from fossil-fuel vehicles as part of its fight against climate change.

One of the messages of the report is that trade is a force multiplier as countries adapt and adjust to climate disruptions. “Open international markets would help countries achieve necessary economic adjustment and resource reallocation,” a press release about the report stated on Nov. 7. Countries that are more open to trade tend to have a “greater capacity to adapt to climate change,” the report stated.

Though trade-related greenhouse gas emissions have led to calls to limit exports in favor of domestic production and consumption, the WTO argues that such a move might lead to countries closing their borders and thereby generating an uptick in domestic emissions.

“Instead of re-shoring, the low-carbon transition would be better supported—and accelerated—by cleaner trade, which would involve reducing the carbon intensity of production, transportation and GVCs [global value chains], developing and deploying climate-friendly technologies and promoting trade in climate-friendly goods and services,” the report said.

Among some of the “major decarbonization pathways” the WTO recommends for international transport is moving away from fossil fuels to lower-carbon fuels and phasing out carbon-intensive vehicles.

The WTO also encouraged the removal of tariffs and reducing non-tariff measures on energy-related environmental goods and environmentally preferable products.

The report comes as the European Union accuses Washington of potentially violating WTO rules by offering tax credits and subsidies to products made in the United States or to companies operating in the country.

On Nov. 7, the WTO also posted tweet about a climate panel discussion aimed at redesigning the “global financial architecture to support climate and health goals.”

Beneficial Warming

Though the potential warming of the earth is being presented as a likely disaster for humanity and the planet, Gregory Wrightstone, executive director of the nonprofit “CO2 Coalition,” argues otherwise.

During an interview with Epoch TV’s “Crossroads” program last month, Wrightstone pointed out that there were three warming periods in the past thousand years of human history. Each of these periods was warmer than today, but the level of carbon dioxide was much lower.

These warmer periods were “hugely beneficial” for mankind as food was plentiful and civilization arose. During the first warming period, great civilizations like the Babylonians, Hittites, Minoans, and Assyrians arose. When the earth started to turn cold, these civilizations crashed.

During the second warming period, Romans were growing citrus in the north of England. In the third warming period, people in Greenland were growing barley, something that cannot be done today. “We should fear the cold and welcome the warm. That’s what history tells us,” he said.

A Harvard-CAPS Harris poll published in August showed that only 45 percent of American voters saw climate change as an immediate threat. While among Democrats, this figure was at 66 percent, it dropped to 41 percent among Independents.