Upsurge in world trade forecast

World trade will grow by 13.5% in 2010 according to economists at the World Trade Organisation. This is faster than the March forecast of a 10% expansion in trade volumes. Merchandise exports of developed economies are predicted to expand by 11.5% in volume terms while the rest of the world (including developing economies and the Commonwealth of Independent States) is … Continue reading

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World Trade has been a casualty of the global crisis

Pascal Lamy, director-general of the World Trade Organisation recently gave a speech in Brussels at which he explained the deterioration in world trade over the past year. He said: “These are not easy times. We know that in 2009, growth of real world GDP was negative, estimated at -2.2 per cent. Furthermore, the global unemployment rate reached its highest level … Continue reading

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World banana problem gets straightened out

No, this has nothing to do with the EU passing new legislation requiring all bananas to be straight rather than curved. Although you probably wouldn’t be that surprised if it were true. But, the EU has been at the heart of what has been called the “banana wars”.   This is a world trade dispute which has dragged on for … Continue reading

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Warning of protectionist dangers from World Trade Organisation

In a recent report by Pascal Lamy, director-general of the World Trade Organisation (WTO), he noted the likely depth of the current recession and its impact on world trade. He said that in such circumstances “a large premium must be attached to avoiding policies that restrict world trade”. Although he could not see any immediate descent into high intensity protectionism … Continue reading

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