WTO forecasts: The Volume of Global Trade will Decrease by 10%(2009/7/23)

On July 22nd, the WTO revised the forecast on the position of global trade in 2009. It considered the volume of global trade will decrease by 10%, which is higher than 9% forecasted in March.

WTO said, now the situation of globla economy is still grim. At present, the decline of trade activity is slow down, but the trade volume in this year will decrease by big percentages. Otherwise, the governments should take some measures for the economic crisis, it will make a great impact on the range of decline and the duration.

WTO also said in that, under the condition of economic crisis, all the governments face with the pressure of taking measure to restrain trade, such as anti-dumping, incrase the tariff, etc, these do not disobey the WTO agreement, but if they are treated inappropriately, it will encourage the trade protectionism seriously.

The report said, although the WTO agreement permits the members adopting some emergency measures against economic crisis, these measures should be abstemious. The report also emphasized the importance of keeping transparent on related measure and effective supervision.
(by China Leiyuan, 2009/7/23)