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As traditional tariffs decline globally, countries increasingly deploy non-tariff barriers (NTBs) like technical standards, environmental regulations, and data localization laws to protect domestic industries. While often framed as public health or safety measures, these complex, opaque regulations act as disguised protectionism. They disproportionately restrict market access for developing nations, exacerbating global trade inequalities. Looking ahead, NTBs are here to stay. Emerging technologies like AI and digital compliance frameworks will likely be weaponised by advanced economies to reinforce competitive advantages, creating a new generation of sophisticated barriers.
The globe suddenly isn’t shrinking as much. Increasingly the “global village” resembles independent fiefdoms, with political strongmen emerging as undisputed kings. With social, cultural and political upheaval, economics cannot be left behind. Indeed, arguably, there is no motivator stronger than economics to usher in change, whether social, cultural or political.
Since time immemorial, trade has been used as a strategic tool by shrewd statesmen either to assert heft or to avoid economic annihilation. The simple truth about being alive is best described in a phrase “survival of the fittest”, coined by Herbert Spencer and adopted by Charles Darwin.1 When juxtaposed
