WTO's Azevedo Says Global Trade Is Improving

The video discusses the APEC summit in Hanoi and insights from the WTO Director General Roberto Azevedo. He highlights the risks of countries acting unilaterally in global trade, emphasizing the importance of respecting established systems. Trade growth is expected to improve in 2017 compared to 2016, but remains below historical averages. Azevedo advises the Trump administration to consider the complexities of trade policies carefully. The biggest threat to the multilateral trading system is countries taking unilateral actions, which could lead to a negative domino effect similar to the 1930s.

How does the speaker describe the complexity of trade?

What historical event does the speaker reference to illustrate the potential negative effects of unilateral actions?