WTO cuts 2013 trade forecast, sees protectionist threat

April 10, 2013

The following is excerpted from today’s article by The Globe and Mail.

The World Trade Organization slashed its forecast for trade growth in 2013 on Wednesday, saying it feared protectionism was on the increase.

It cut its forecast for global trade growth in 2013 to 3.3 percent from 4.5 percent and said trade grew only 2.0 percent in 2012. That was the smallest annual rise since records began in 1981 and the second weakest figure on record after 2009, when trade shrank.

WTO Director General Pascal Lamy warned that 2013 could turn out even weaker than expected, especially because of risks from the euro crisis, and countries might try to restrict trade further in a desperate attempt to shore up domestic growth…

This article is available in its entirety at: http://www.theglobeandmail.com/feeds/thomson-reuters/update-1-wto-cuts-2013-trade-forecast-sees-protectionist-threat/article10967457/ (subscription may be required.)

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

International News Channel

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