Opening remarks by Deputy Director General William Liu at the 2018 WTO & RTA International Conference: The Prospects and Challenges of Globalization and Multilateral Trade Organization.

Recently, drastic political and economic changes have transpired internationally due to US-China trade friction. The industrial division of labor internationally has been reorganized, which has impacted the original economic and trade order. In response to the aforementioned challenges and in an effort to deepen our role in the global supply chain, we are actively promoting the “5+2 Industrial Innovation Plan” domestically to hasten industrial upgrading and transformation, while externally endeavoring to participate in regional economic integration.