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The multilateral trading system is widely perceived to be in crisis, undermined by geopolitical tensions, unilateral trade policies, and growing skepticism toward global cooperation. UBS Foundation Professor Ralph Ossa, who served as Chief Economist of the World Trade Organization (WTO), argues in our latest UBS Center Public Paper #16, that such narratives are both overstated and insufficiently precise. While the system faces real and structural pressures, it continues to govern the majority of global trade and to deliver significant economic value.
The multilateral trading system is widely perceived to be in crisis, undermined by geopolitical tensions, unilateral trade policies, and growing skepticism toward global cooperation. UBS Foundation Professor Ralph Ossa, who served as Chief Economist of the World Trade Organization (WTO), argues in our latest UBS Center Public Paper #16, that such narratives are both overstated and insufficiently precise. While the system faces real and structural pressures, it continues to govern the majority of global trade and to deliver significant economic value.
Ernst Fehr, Professor of Economics at the UZH Department of Economics and Director of the UBS Center for Economics in Society, has been elected as an international member of the U.S. National Academy of Sciences.
Joining one of the world’s most prestigious scientific communities, this recognition reflects Fehr's continued advancements in original research, especially in the field of behavioral economics.
Fehr is part of an esteemed group of economists elected this year, including Nobel laureate Robert Shiller and former chair of the Federal Reserve Janet Yellen.
The National Academy of Sciences (NAS) was founded on March 3, 1863, at the height of the Civil War. Those elected today bring the total number of active members to 2,705 and the total number of international members to 557.
UBS Foundation Professor Florian Scheuer, Chair of the Department of Economics, has been appointed to the Scientific Advisory Board of the German Federal Ministry of Finance.
The appointment was made by Federal Minister of Finance Lars Klingbeil, Member of the Bundestag, upon the recommendation of the Advisory Board.
The Scientific Advisory Board is one of the most prestigious economic policy advisory bodies in Germany. It provides independent advice to the Ministry on fundamental economic and fiscal policy issues, supports political decision-making processes with scientifically sound analyses and expert opinions, and contributes evidence-based perspectives to current reform debates.