Read this article

https://www.economist.com/by-invitation/2023/11/08/mathias-dopfner-argues-that-the-global-trading-system-needs-a-shake-up

In the above essay from the Economist, Mathias Dpfner argues that the current global trading system is deeply flawed and is being exploited by totalitarian regimes to the detriment of democracies. He proposes a new alliance of democracies that would trade tariff-free with each other, while imposing high tariffs on non-members. Dpfner contends that this would be a trade policy based on incentives rather than outright prohibitions, and that it would stimulate and strengthen democratic economies.

Discuss Dpfner's criticisms of the current global trading system and evaluate his proposed solution. In your essay, consider the following questions:

• What are the key flaws in the current global trading system?
• How have totalitarian regimes exploited the system?
• What are the risks of democracies engaging in trade with authoritarian countries?
• What are the potential benefits and drawbacks of Dpfner's proposed new trade alliance?
• Is it realistic to expect democracies to unite around a common set of trade principles?
• What are the potential challenges of implementing Dpfner's proposal?

Additional considerations:

• You may also want to consider the role of the World Trade Organization (WTO) in the global trading system.
• You may also want to discuss the potential impact of Dpfner's proposed solution on developing countries.