De-globalization seen unlikely

However, despite the challenging conditions, Lamy still believes the world is not entering a "de-globalization" trend, but into "a different phase of globalization", as international trade still keeps growing, as seen by record 2022 trade volume statistics.

According to a WTO report, in volume terms, global merchandise trade rose 2.7 percent year-on-year in 2022, with services trade growing 15 percent.

"I still believe that these engines will keep pushing for globalization," said Lamy.

In terms of the future path, Lamy said the world is in a process of "slowbalization" and its patterns would be increasingly influenced by security requirements, or "paranobalization".

"We should try to ease geopolitical tensions and rebuild trust through high-level dialogue leading to progressive confidence measures in Sino-US relations," said Lamy.

In an exclusive interview with China Daily, Lamy said he was also happy to see conversations and talking channels being built between China and Europe, as several senior European leaders recently paid visits to China.

On Dec 7, the 24th China-EU Summit was held in Beijing, where an in-person meeting between Chinese and European leaders was held again after a four-year hiatus.

"Although we have differences and tensions, there are areas where the EU and China could keep cooperating. And I think we can do more," Lamy said.

"China and Europe have a lot in common in terms of dealing with the environment, which is a very good starting point. We can help build a more coherent environmental governance system where China draws lessons from the EU's regulatory experience, including in carbon pricing, and the EU learns about the successes of China in rapidly developing its impressive green technologies."

With the aim to contain the risk of further divisions and navigate global turbulence, Lamy also attached significance to the role that international organizations, such as the WTO, should play in pursuing joint efforts and reshaping the new phase of globalization.

"International organizations are important to frame disciplines and organize international systems. It's more difficult to address core issues in today's era than ever before because there are many disruptive factors. The key is to establish more uniform regulations, whether in terms of global trade or climate change."

wangxin2@chinadaily.com.cn