The World Trade Organization (WTO) has revised its forecasts for world trade for this year and next. WTO economists forecast growth of 3.5% in 2022 and 1% in 2023. In April, the forecast was 3% and 3.4%, respectively. In a statement , the organization explains that the new forecast results...
WTO Director-General Ngozi Okonjo-Iweala today predicted the arrival of a global recession at a time of simultaneous crises due to the war in Ukraine, high energy and food prices, and the adverse effects of climate change. "The recession is coming, the indications are not positive at a time when both the...