World Trade Organization (WTO) Director-general Ngozi Okonjo-Iweala warned on Wednesday; that economists estimate that a fragmentation of the global economy could reduce global gross domestic product by 5% in the long run.
She said those losses would be compounded by higher transaction costs and balance of payments distress.
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It would also make it much harder to tackle problems such as climate change; or stabilizing global food and fertilizer markets that had been badly disrupted by the war in Ukraine.
