Consistent, clear policies ensure stable business performance, says former WTO chief economist

BOAO, China, March 26 (Xinhua) -- Only steady, clear and transparent policies can provide businesses with much-needed certainty that ensures their long-term performance, former World Trade Organization (WTO) chief economist Robert Koopman has said.

The capricious U.S. tariffs and regulatory policies have deepened uncertainty in the business environment, making it difficult for companies to make long-term decisions and form development strategies, Koopman said in an interview with Xinhua on Wednesday on the sidelines of the Boao Forum for Asia (BFA) Annual Conference 2026 being held in south China's Hainan Province.

"Asia is the fastest growing region in the world," said the economist, who is also Hurst Senior Professorial Lecturer at American University, noting that the region has anchored global growth through deepened supply chain integration, which has opened critical opportunities for developing economies in Asia to join the global industrial system.

He stressed that China has been a leader in green energy. "China has been leading in the technological evolution and efficiency of green energy, and playing a very positive role in providing low-cost green energy products for the world."

Citing China's booming electric vehicle sector as an example, Koopman said the wide uptake of such green technologies holds the key to Asia's sustainable growth, with rising oil prices also providing positive incentives for the transition.

On the global inspiration from Asia's development, the economist highlighted regional economic integration as the most valuable experience. "What's happening in Asia is a good model for the world," he said, noting that the ASEAN approach and the Regional Comprehensive Economic Partnership (RCEP) have set good examples of coordination and cooperation.

Addressing the impact of tariff hikes, Koopman said that U.S. consumers, including households and firms, are the ones paying the price for U.S. tariffs.

"Firms much prefer steady, clear and transparent policies, whether it's tariffs or regulations," he said, criticizing the U.S. policy reversals on green transition and regulatory rules for having disrupted corporate long-term planning.

Koopman said the WTO remains "the ultimate place to advance global cooperation and integration," adding that its founding principles are still valid. He called for reforming the organization to adapt to new developments such as digital and services trade.

He also welcomed coordination and cooperation around the world. "Coordination and cooperation, even if they require hard work, result in better outcomes for all. No country can thrive alone, and multilateral cooperation is irreplaceable," he said.