WTO expects continued recovery in global trade
The World Trade Organization issued a report on the 31st that the performance of global trade last year was better than expected. It is expected that global trade will continue to rebound this year, and the volume of global trade in goods will increase by 8.0% and 4.0% respectively this year and next.
The report shows that due to the impact of the new crown epidemic, global trade in goods fell by 5.3% in 2020. From a regional perspective, affected by the large-scale fiscal stimulus policies of the United States, North America will become the main region driving global demand for trade in goods in 2021; exports from Asia The volume of cargo is expected to grow by 8.4%, making it one of the fastest growing regions in the world.
The WTO believes that the good news about the new crown vaccine, the fiscal and monetary policies implemented by many economies, and the effective epidemic control measures implemented by China and other Asian economies and the containment of economic downturns have boosted global trade demand and avoided global trade. Fall into a more severe recession. Although the short-term prospects for global trade are relatively positive, the regional differences in trade recovery, the continued weakness of trade in services, and the delayed vaccination of the new crown vaccine in the world, especially in poor countries, will increase the uncertainty of global trade prospects, and the future development of the epidemic will still Will pose the greatest threat to trade recovery.
WTO Director-General Oconjo Iweala said at a press conference that day that keeping the international market open is essential for economies to recover from this crisis, and that the new crown vaccine is vaccinated quickly and fairly globally. It is a prerequisite for a strong and sustained recovery.