How can the global trading system become fairer? And what can today's debates learn from the ambitious vision of the New International Economic Order (NIEO)?

In this second episode of the Vienna Global Forum podcast series, hosts Anamaria Copilau and Werner Raza are joined by Richard Kozul-Wright, former Director of the Division on Globalization and Development Strategies at UNCTAD, to explore the history, politics, and future of global trade governance.

The conversation traces the evolution of the post-war trading system - from the failed International Trade Organization (ITO) and the GATT to the WTO - and examines why many countries in the Global South viewed the system as structurally unequal. Together, they revisit the rise of UNCTAD, the ambitions of the NIEO, and the struggle to reshape international trade in the interests of development.

The discussion also addresses some of today's most pressing questions:

🔹Why has structural inequality in global trade persisted?
🔹What role did UNCTAD play in giving the Global South a stronger voice?
🔹Why did the NIEO ultimately lose momentum?
🔹How has neoliberalism reshaped global economic governance?
🔹What reforms are needed to create a more inclusive international trading system?
🔹Should we reform existing institutions - or build new ones?

Drawing on decades of experience in international economic policy, Richard Kozul-Wright reflects on policy space, industrial policy, multilateralism, South–South cooperation, and China's growing role in shaping the future of global governance.

Guest: Richard Kozul-Wright (SOAS University of London; former UNCTAD Director of Globalization and Development Strategies)

📍Episode 2 of the Vienna Global Forum podcast series: Lessons from the New International Economic Order

📌 Learn more about the Vienna Global Forum: www.viennaglobalforum.org