international organizations may no longer be fit for purpose

Former Canadian Prime Minister Justin Trudeau expressed his views on international financial institutions during an appearance at CNBC’s CONVERGE LIVE event in Singapore. Trudeau criticized these institutions, stating that they were “spectacularly ill-adjusted” to address current global challenges.

“It’s evident in various parts of the world that institutions like the WTO or the IMF are no longer effectively serving their intended purposes in today’s world,” Trudeau shared with CNBC’s Mandy Drury.

Trudeau specifically called out major global powers such as the U.S., China, Russia, and India, suggesting that they have the ability to selectively adhere to or disregard components of the rules-based international order.

This is a developing news story and will be updated shortly.