When we talk about “reinvention” we often overlook what works, noted WTO Director-General Ngozi Okonjo-Iweala in her closing keynote. This is true of the global trading system, which has proven surprisingly resilient in recent years, and of the European economy, which might not have a tech giant to rival those in the US or China, but remains a global trade powerhouse and a leader in science and research. While Europe has much to do to improve its external competitiveness, it must not act from a sense of panic. Instead, it must pursue measured reforms and seize new opportunities, not least closer trade and investment ties with Africa.
