Global trade is suffering its longest slump since the Second World War
Countries should not use trade barriers to try to solve domestic problems, as it has the opposite effect, WTO director-general Roberto Azevedo says
Sao Paulo — World trade is in a very slow growth phase, World Trade Organisation director-general Roberto Azevedo says. International trade is expected to grow 2.4% in 2017, after growing just 1.3% in 2016 — the slowest since the 2008 financial crisis, Azevedo said on Tuesday in an address to a conference of the Brazilian pork and poultry industries. Growth in trade would remain below 3% for the sixth consecutive year — which he said was unprecedented since the Second World War, he said. "It is a period of slow growth. The economic challenge is accompanied by very important political challenges," he said. "In several regions of the world there is a sentiment of antiglobalisation. Many people feel that the advances in the global economy and in trade and technology have benefited some at the expense of others. "It is true that this trend is more visible in the developed countries. This feeling of dissatisfaction is growing around the world, however, and internationally agriculture rem...
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