The continuing dispute is bad news for both nations, and for the rest of the world. In March, WTO director-general Roberto Azevedo warned that a fully-fledged trade war between China and the US would have "a severe impact on the global economy", and that there was a risk global growth could fall "very quickly" as a result. Increasing economic openness has already lifted billions out of poverty. Today, this openness is more important than ever before, with many nations confronted by an array of economic challenges, from growing inequality to increasing protectionism.