WTO Puts the Cost of Trade Fragmentation at up to 10% of Global GDP
12 Articles
12 Articles
The cost of dismantling the international trading system based on common rules and the return to unilateral policies, as Donald Trump's government has been imposing, would lead to trillions of dollars' losses for the global economy. According to the World Trade Organization (WTO) report, a more uncertain environment, in a geographically fragmented world marked by free trade agreements, would reduce world production by 5% to 10% by 2050, equivale…
WTO puts the cost of trade fragmentation at up to 10% of global GDP
The World Trade Organization says a stronger multilateral trading system could lift global gross domestic product by 2.9% by 2050, equal to about $3 trillion in 2023 prices. Its new report also puts the gap between deeper cooperation and a more fragmented system at roughly 5% to 10% of global real GDP.
The organizations indicated that if the global trading system was not modernized, global GDP could be 10 per cent lower than a strengthened multilateral system.
The World Trade Organization warns that a decline in trade cooperation and increased protectionism could reduce global GDP
WTO Models a 3% Trade-Reform Upside and Up to 10% GDP Cost From Inaction
The World Trade Organization has put a number on its case for rewriting global trade rules: stronger multilateral cooperation could lift world output 2.9% by 2050, while the gap between reform and the erosion of common rules could cost roughly 5% to 10% of global GDP. For investors, that is a long-dated estimate of how…
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