The multilateral economic order is in crisis. The WTO no longer has the final word on trade issues, the IMF and World bank have lost market share as lenders, and countries are becoming more protectionist. Are smaller groups of countries, such as the G7, G20, or BRICS, the solution to the fracture? Can the WTO be reformed to avoid this fracture and also help countries address critical challenges such as climate change? How can the United States and Europe work together to build a sustainable and fair global trading system? Gabriel Felbermayr, Director of the Austrian Institute of Economic Research (WIFO), joins The Zeitgeist to discuss the transatlantic challenges of derisking, deindustrialization, and greening their economies. Articles mentioned in this episode: Wolfgang Reitzle: The Illusion of Effortless Prosperity Steve Szabo: The Return of German Pessimism Holger Schmieding: The German Puzzle Host Jeff Rathke, President, AGI Guests Gabriel Felbermayr, Director, Austrian Institute of Economic Research Peter Rashish, Vice President and Director, Geoeconomics Program, AGI