Former Vice President of Ghana, Dr Mahamudu Bawumia speaking at IDU forum on trade issues
At the International Democratic Union (IDU) forum this week, former Vice President of Ghana, Dr Mahamudu Bawumia joined a high level panel of global leaders to discuss the subject ‘Trade Wars, Tariff Battles and the New Geoeconomic Order: How to Restore Stability”.
Dr Bawumia moved the audience with his incisive perspective on how to restore stability in the midst of global trade uncertainties.
Dr Bawumia explained that trade imbalances are as a result of macroeconomic imbalances, adding that tariffs cannot be used to fix macroeconomic imbalances and any attempt to do so is bound to fail as history has shown.
The former Vice President also stressed that at the heart of trade wars and negotiations is the element of trust (as is happening between the United States and China), describing it as “mutually assured suspicion” which, he noted, has the tendency to result in suboptimal outcomes in trade negotiations.
He urged key global players to resolve the issues of mistrust amongst them.
Watch as Dr Mahamudu Bawumia impresses International Democratic Union (IDU) forum with his perspective on restoring stability in global trade uncertainty.#ghanaweb#ghanawebtv pic.twitter.com/3GhGf0O3SS
— GhanaWeb (@TheGhanaWeb) May 17, 2025
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