There appears to be a disconnect between the performance of global trade and the performance of the global economy. 1) Trade growth is weak and reflects inflationary pressures and conflictThe data evidence to support the WTO’s assessment is mixed. Figure 1: Global trade volumes and Values, 2014-2023Source: Comrade; CBP Netherlands World Trade Monitor2) Trade is not just about economics – it is increasingly politicalSecond, trade has not been used exclusively by policy makers over recent years as the means of creating a peaceful and fair economic base for the global economy to grow. Defining the impact of world trade on sustainability is at best a challenge and at worst impossible. According to the WTO, fewer interdependencies would be at the expense of integrating emerging economies into the global trade system.

Source: Forbes December 07, 2023 20:07 UTC