The organization’s economists said in the report that the idea of ”deglobalization” has become more popular since the war in Ukraine and due to pandemic-related restrictions in China, which have caused significant disruptions in global supply chains.
World Trade Report 2023 makes case for “re-globalization” amid early signs of fragmentation #WTOPublications https://t.co/wSCQ0QpFeF pic.twitter.com/HFaElVueDj
— WTO (@wto) September 12, 2023
In their annual report on international trade, World Trade Organization economists warn of the first signs of trade fragmentation that threatens to slow growth and development.
Experts have calculated the trade between the two geopolitical blocs, which were divided according to how they vote in the UN General Assembly.
It can be understood that we are talking about the West on the one hand and China and Russia on the other.
Experts warn that splitting world trade into two distinct blocs will cost the world about five percent of real income, with some developing countries facing heavy losses.
Typo?
Highlight the text and press Ctrl+Enter to send the corrected text fragment to the editor!
Highlight the text and press the Report an error button to send the corrected text fragment to the editor!
Report a bug
2023-09-12 13:56:29
#WTO #warns #signs #global #trade #fragmentation
