Abstract According to the forecast released by the World Trade Organization on April 12, global trade is expected to increase by 2.4% in 2017. The WTO issued a communique on the same day saying that due to the "high degree of uncertainty" in policy, the global trade growth rate this year...
According to the forecast released by the World Trade Organization on April 12, global trade is expected to increase by 2.4% in 2017. The WTO issued a communique on the same day saying that due to “high uncertainty†in policy, global trade growth may be between 1.8% and 3.6% this year, and it is expected to remain between 2.1% and 4% in 2018.
Global trade grew by only 1.3% in 2016, the slowest growth since the 2008 financial crisis.
WTO Director-General Azevedo said in the communique that the slow growth of international trade in recent years is a manifestation of the continued weakness of the world economy. He said that if goods circulation and cross-border services can be kept smooth, trade can contribute to world economic growth; but if policymakers impose strict restrictions on imports to protect their employment, trade may not only promote economic growth, It will even restrict the economic recovery.
Azevedo takes manufacturing as an example and points out the impact of innovation, automation and the use of new technologies on employment. He also stressed that no one would question the benefits that technological progress brings to humanity. He called on governments to strengthen education and training, give play to trade advantages and create more job opportunities.
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