Amid evolving geoeconomic dynamics, a new normal in global trade and economic relations between countries is emerging. To shed light on these ongoing shifts, The Hong Kong University of Science and Technology (HKUST) Institute for Financial Research (IFR) hosted a fireside chat, featuring Mr. Pascal LAMY, former Director-General of the World Trade Organization (WTO), in conversation with Professor Qing LI, Director of the HKUST Li & Fung Supply Chain Institute. Co-presented with the Consulate General of France in Hong Kong and Macau, the event attracted a wide audience of scholars, professionals, and students.
Kicking off the event, titled “Global Trade and Geoeconomics: Navigating the New Normal,” Professor Abhiroop MUKHERJEE, Associate Director of the IFR, highlighted the timeliness and significance of the topic, noting that global trade dynamics and policy divisions have become central to economic debates worldwide.
Mr. Lamy opened the discussion by offering novel insights into global trade. Rather than a retreat from globalization, he suggested that the world is transitioning into a “new phase in which security concerns and economic interdependence increasingly overlap with great powers weaponizing trade.” He also highlighted that tomorrow’s trade barriers will come not from classical protectionism but from what he called “precautionism”—the rising costs of regulatory divergence in health, environment, and national security.
Moderating at the event, Prof. Li steered the discussion through topics that include the future of the WTO, supply-chain resilience, green transition, and digital regulation. He observed that global companies are shifting “from efficiency-first to resilience-first,” noting that the next decade will reward firms that transform data and technology into sustainable trust across networks.
Mr. Lamy and Prof. Li, both international trade experts, agreed that Hong Kong, with its international legal and financial infrastructure, is uniquely positioned to evolve from a “super-connector” into a platform for global public goods. They highlighted the city’s potential to pioneer regional efforts in green certification, digital-payment interoperability, and regulatory coordination.
In summarizing the discussion, Mr. Lamy stressed that the future of trade research lies in services and data. He also encouraged researchers and students to combine economic reasoning with humanistic understanding and to engage with global challenges through informed action.
The fireside chat forms part of IFR’s continuing efforts to foster dialogue among academia, industry, and policymakers on the future of global trade and finance, advancing HKUST’s role as a hub for data-driven and sustainable economic insights.
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Mr. Pascal LAMY (left), former Director-General of WTO, engages in a captivating fireside chat with Professor Qing LI, Director of the HKUST Li & Fung Supply Chain Institute.
Professor Abhiroop MUKHERJEE, Associate Director of the IFR, kicks off the event, noting that global trade dynamics and policy divisions have become central to economic debates worldwide.
Dr. Angela NG, Assistant Vice-President for Institutional Advancement (Global Engagement) of HKUST (middle right) presents Mr. Pascal LAMY, former Director-General of WTO (middle left) with a souvenir in appreciation of his valuable insights at the University event, joined by Mrs. Christile DRULHE, Consul General of France in Hong Kong and Macau (left), and Prof. Qing LI, Director of the HKUST Li & Fung Supply Chain Institute (right).
Group photo of Mr. Pascal LAMY, former Director-General of WTO (middle), Dr. Angela NG; Assistant Vice-President for Institutional Advancement (Global Engagement) of HKUST (fourth right); Mrs. Christile DRULHE, Consul General of France in Hong Kong and Macau (fourth left); Prof. Qing LI, Director of the HKUST Li & Fung Supply Chain Institute (third right); Dr. Bo TANG, Head of the IFR (second left); Prof. King Lun YEUNG, Director of France-HKUST Innovation Hub (third left); and other representatives from the Consulate General of France in Hong Kong and Macau.
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