27 MAY,2019 | MEDC
The World Trade Organization (WTO) has dimmed its prospects for trade growth in the second quarter of the 2019 calendar year. The Geneva-based WTO brings out its quarterly forecast of global trade growth through its World Trade Outlook Indicator (WTOI) index. The index shows a sustained slowdown in container port throughput, resulting from declining growth in crucial economic sectors. Even though not officially admitted by the WTO, the ongoing US-China trade war is probably at the heart of it. With China taking an aggressive stance, tensions between the world’s two largest economies are not likely to subside anytime soon, resulting in a prolonged disruption in global trade. India may have been able to gain strategically from this unique situation if our infrastructure developments were to be in place, but that is unfortunately not the case.
*Photo Credit: Google
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