{"id":450,"date":"2016-09-27T13:47:04","date_gmt":"2016-09-27T13:47:04","guid":{"rendered":"https:\/\/phoenixglobalgroup.com\/mi-katigoriopoiimeno\/global-trade-in-its-worst-year-since-financial-crisis\/"},"modified":"2024-02-27T09:45:40","modified_gmt":"2024-02-27T09:45:40","slug":"global-trade-in-its-worst-year-since-financial-crisis","status":"publish","type":"post","link":"https:\/\/phoenixglobalgroup.com\/el\/nea\/global-trade-in-its-worst-year-since-financial-crisis\/","title":{"rendered":"Global Trade in its Worst Year since Financial Crisis"},"content":{"rendered":"
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WTO Says Global Trade in Its Worst Year Since Financial Crisis<\/p>\n

By: Maria Tadeo | Sep 27 2016 at 06:23 AM |\u00a0International\u00a0Trade<\/a><\/p>\n

Global trade will expand at the slowest pace since the financial crisis this year, the World Trade Organization said, as weakness in key regions and rising protectionism take a toll. The Geneva-based organization forecasts that trade will expand 1.7 percent in 2016, down from an April estimate of 2.8 percent. It predicts real GDP growth of 2.2 percent, marking the weakest performance since 2009.<\/p>\n

Worryingly, the WTO sees a risk that trade won\u2019t pick up next year, cutting its 2017 projection to a range of 1.8 percent to 3.1 percent, down from 3.6 percent previously. It said with increasing wariness of globalization, governments and authorities must do more to support open trading that\u2019s more inclusive.<\/p>\n

\u201cThe dramatic slowing of trade growth is serious and should serve as a wake-up call,\u201d WTO Director General Roberto Azevedo said in a statement Tuesday. \u201cThis is a moment to heed the lessons of history and re-commit to openness in trade, which can help to spur economic growth.\u201d<\/p>\n

The revision follows a sharper than expected decline in trade volumes in the first quarter and a smaller than expected rebound in the second quarter as emerging economies such as Brazil and China remained under pressure. North America was also a disappointment, the WTO said, noting a deceleration there this year compared with 2014-2015.<\/p>\n

While the organization sees a number of trade-related indicators improving\u2014including export orders and container port turnout\u2014it warned that the overall momentum remains weak with multiple challenges including creeping protectionism.<\/p>\n

\u201cWe need to make sure that this does not translate into misguided policies that could make the situation much worse,\u201d Azevedo said.<\/p>\n

Source:
\nhttps:\/\/www.ajot.com\/news\/wto-says-global-trade-in-its-worst-year-since-financial-crisis<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

WTO Says Global Trade in Its Worst Year Since Financial Crisis By: Maria Tadeo | Sep [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[33],"class_list":["post-450","post","type-post","status-publish","format-standard","hentry","category-nea","tag-2016-el"],"yoast_head":"\nGlobal Trade in its Worst Year since Financial Crisis - PHOENIX GLOBAL FREIGHT GROUP S.A. - Since 1991<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/phoenixglobalgroup.com\/el\/nea\/global-trade-in-its-worst-year-since-financial-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"el_GR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Trade in its Worst Year since Financial Crisis - 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