For the least developed countries, revitalising multilateralism is life or death

Few would deny that the international system governing the environment and economy is under pressure. Globalisation itself is wobbling, to the chagrin of governments in rich and emerging economies. What's less talked about is the effect on the world's 47 least developed countries (LDCs), home to a billion people, a quarter of whom live in extreme poverty. (...) But it is in trade where the LDCs may lose most from the new cracks in the international order. The US-China trade war compounds stress on the multilateral trading system, which was already struggling because of a lack of progress on talks at the World Trade Organisation. Bilateral trade and investment agreements have multiplied in recent years, particularly those involving developing countries. Without multilateralism, flawed as it is, LDCs are compelled to accept terms offered by their developed and more powerful developing-country counterparts rather than strike deals collectively as part of a bloc using accepted rules.