Amid rising unilateralism and protectionism, and growing uncertainty over the global economic outlook, upholding the role of the World Trade Organization and refraining from weaponizing trade and economic ties would better serve the shared interests of all economies, said current and former government officials on Tuesday.

Speaking at a sub-forum of the ongoing Boao Forum for Asia Annual Conference 2026 in Boao, Hainan province, they said that globalization is not coming to an end, but is entering a more complex phase, where trade will increasingly be shaped by rules, governance and, at times, geopolitical pressure.

Paolo Gentiloni, former Italian prime minister, said that global trade will continue, but the key question is whether it remains rules-based or becomes driven by power. The solution is not to resort to protectionism, but to work together to manage differences and avoid escalation into trade conflicts.

Gentiloni also stressed the importance of joint efforts to strengthen the WTO, adding that reforming and reinforcing the organization's role could provide a platform for managing disputes and maintaining stability in global trade.

Daniel Palotai, deputy governor of Hungary's central bank, warned that growing fragmentation in the global trading system is already taking a toll, as rising uncertainty weighs on business confidence and investment, potentially hurting growth and labor markets.

Echoing concerns over the evolving global trade landscape, Carlos Gutierrez, former secretary of commerce of the United States, said the global economy is unlikely to return to its previous model anytime soon, as the scale and complexity of today's economic systems make any reversal both difficult and time-consuming.

"In the near term, we are more likely to see a fragmented landscape, with bilateral and regional agreements gaining prominence, while global rules and standards become more diluted," said Gutierrez, noting that such a trend could weaken transparency and consistency in international trade.

The world would benefit from a more stable and constructive economic relationship between China and the US, with both sides ensuring that opportunities remain open and mutually accessible, he said, adding that if the two sides can find ways to manage differences and establish a framework for coexistence, it could provide a model for the global system.

China's trade with the US dropped 16.9 percent year-on-year to 609.71 billion yuan ($88.44 billion) in the first two months, while its total imports and exports with partner economies involved in the Belt and Road Initiative jumped 20 percent on a yearly basis to 4.02 trillion yuan, said the General Administration of Customs.

Taking a broader view, Robert Koopman, former WTO chief economist, said trade policy is not the main driver of global trade growth.

"Tariffs and related measures account for only a part of trade dynamics, while broader factors such as technological change and innovation play a far more significant role," Koopman said.

Against this backdrop, policymakers are stepping up efforts to reinforce multilateral cooperation. Chinese Commerce Minister Wang Wentao will lead a delegation to attend the WTO's 14th Ministerial Conference, which will be held in Yaounde, Cameroon, from Thursday to Sunday.

The conference will take place amid severe challenges to the global economic and trade order, said the Ministry of Commerce.

The ministry said China will host a high-level meeting focusing on Africa's industrialization and Chinese investment during the conference, as well as participate in other events aimed at helping all parties — especially developing members — better integrate into the multilateral trading system and benefit from multilateral, mutually beneficial cooperation.