Global business leader Mathias Döpfner offers a “compelling” (Gideon Rachman, chief foreign affairs columnist for Financial Times) and revolutionary road map to reshape global trade, strengthen our democracy, and safeguard our freedoms.
Freedom is on the decline around the world. Autocrats in Europe, Asia, and the Middle East are undermining our open societies, human rights, and the rule of law. The Russian invasion of Ukraine was a wake-up call for the West, but the biggest threat remains China. For two generations, Americans and Europeans have believed that change will come through trade, but instead of dictatorships becoming more like Western democracies, unfettered free trade has strengthened our enemies and undermined our countries. We are caught in a trade trap, faced with the decision to choose either opportunism and submission or opposition and emancipation.
In The Trade Trap, one of the world’s most powerful business leaders traces the rise and costs of Western dependency on China and Russia. And he suggests a radical new approach to free trade: The establishment of a new values-based alliance of democracies. Membership is based on the adherence to three very simple criteria: the rule of law, human rights, and sustainability targets. Countries that comply with these criteria can engage in tariff-free trade with others. Those who don’t will pay prohibitive tariffs.
Sharing the author’s encounters with major global figures including Vladimir Putin, Recep Tayyip Erdogan, George W. Bush, Angela Merkel, Jack Ma, and more, The Trade Trap offers personal insight into the dangerous consequences of doing business with autocrats along with a bold proposal for a values-based trade policy.
Industry Reviews
"The prolonged attempt to spread democracy through economic globalization has ended in abject failure. Far from becoming more democratic, China and Russia have doubled down on their different brands of dictatorship, while the populist backlash against free trade threatens the stability of the Western democracies themselves. The only solution, Mathias Döpfner argues in this remarkable and original polemic, is radical decoupling—replacing the World Trade Organization with a new world order of free trade between the democracies, raising even further the barriers to trade with regimes that don’t uphold the rule of law, human rights, and clean energy. Enlivened by the author’s own first-hand encounters with authoritarian regimes, this book is guaranteed to incense those who still hope to salvage what is left of the old Washington consensus."
—Niall Ferguson, Milbank Family Senior Fellow at the Hoover Institution
