The Albert Hirschman Centre on Democracy has released an issue brief titled The Remaking of the Global Trading Order: The Search for a New Compass, produced as part of its collaboration with the Kofi Annan Foundation on a project examining the relationship between multilateralism and democracy.
Authored by Cédric Dupont and Christian Winkler of the Geneva Graduate Institute, the brief analyses the rapid unraveling of the global trading system and the widening gap between international trade governance and democratic legitimacy.
The brief argues that the existing trade order is steadily losing public support as the benefits of globalisation have become increasingly concentrated, while many regions have experienced de-industrialisation, economic insecurity, and heightened exposure to global shocks. Long standing priorities of efficiency and productivity have often displaced concerns about fairness, accountability, and sovereignty, fuelling political backlash and deepening polarisation. In response, the authors outline three possible trajectories for the future of global trade governance and assess their ability to rebuild democratic legitimacy and public trust.
The issue brief fed into a high level roundtable organised jointly by the Albert Hirschman Centre on Democracy and the Kofi Annan Foundation at the Athens Democracy Forum on 2 October 2025. Moderated by Declan O’Brien, the discussion brought together Christian Winkler and Alice Tipping of the International Institute for Sustainable Development to explore how multilateral trade governance might recover direction in a fragmented political environment.
The roundtable also produced an outcome document, contributing to ongoing policy dialogue on how international trade might be more closely aligned with democratic principles.