Germany's Merkel laments fraying of multilateral order

Image
Reuters BERLIN
Last Updated : May 28 2018 | 9:00 PM IST

BERLIN (Reuters) - Germany is worried by signs of weakening in the network of multilateral organisations and agreements designed to foster international cooperation, Chancellor Angela Merkel said on Monday.

Merkel blamed the fraying of the multilateral order on a "double transition" - the gradual fading of the direct memory of searing global conflict and the sheer pace and scale of technological change.

"The people who experienced World War Two, the last true global catastrophe, are dying out and are no longer there as eyewitnesses," she told a conference in Berlin.

"They learned from that terrible experience not to embed emnity but that you had to try and build friendships with each other," said Merkel, Europe's longest serving leader.

At the same time, emerging digital technologies are transforming the global economy in a way comparable only to the invention of the printed book centuries ago, creating disruption that no individual state could hope to manage on its own.

"International agreements and institutions are being weakened. This is worrying, since our multilateral global order comes from the lessons we learned from the terrible world wars of the last century," she said.

The same went for global trade, where she warned against protectionist instincts that might endanger open markets.

Regretting the failure to seal a deal on the trans-Atlantic TTIP trade partnership, Merkel stressed Europe's continued willingness to discuss the trade relationship with the United States, but warned against a confrontational approach.

"We are happy to negotiate, but it mustn't be under a sword of Damocles," she said, in an apparent reference to U.S. President Donald Trump's more belligerent stance on world trade.

Merkel said she still hoped there would be no need for the European Union to implement retaliatory measures in its trade dispute with the United States.

Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminium in March but the EU has been granted exemptions until June 1.

(Reporting by Joseph Nasr and Michael Nienaber; Writing by Thomas Escritt; Editing by Gareth Jones)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 28 2018 | 8:51 PM IST

Next Story