WTO FORECAST
Protectionism stands in way of rebound in trade
While the global economic recovery is continuing, protectionist sentiment is on the rise from voters who feel left out
London — Global trade could rebound this year — if rising protectionism and tighter economic policy stay out of the way. Trade is likely to grow by 2.4% this year, according to the World Trade Organisation (WTO), up from 1.3% in 2016. The revival is forecast to be driven by continuing economic expansion in many countries, though measures to curtail trade, higher interest rates and tighter fiscal policies could all undermine growth, the WTO said in a report published on Wednesday. While the global economic recovery is continuing, protectionist sentiment has been on the rise as many voters express anger over being left behind. President Donald Trump has pledged to renegotiate US trade deals including the North American Free Trade Agreement (Nafta), and the UK is preparing to exit the EU, the biggest free-trade area. Central banks, meanwhile, are facing the dilemma of needing to raise interest rates to tackle rising inflation, while output remains lacklustre. Education, Training All th...
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