Geneva — Global trade is rebounding strongly but risks remain, the World Trade Organisation (WTO) said on Thursday, with commerce expected to grow by 3.6% in 2017, well above last year’s 1.3%. The forecast marks a sharp upward revision of the WTO’s April estimate, when it foresaw growth of 2.4% and in a range of 1.8% to 3.6%, due to a high level of political and economic uncertainty. That range has now been narrowed to 3.2% to 3.9%, based on accelerating economic growth and rising import demand in China and the US, which spurred trade within Asia. "The improved outlook for trade is welcome news, but substantial risks that threaten the world economy remain in place and could easily undermine any trade recovery," WTO director-general Roberto Azevêdo said in a statement. "These risks include the possibility that protectionist rhetoric translates into trade-restrictive actions, a worrying rise in global geopolitical tensions, and a rising economic toll from natural disasters." However, ...
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