WTO chief warns against retreat from global economy

WTO chief warns against retreat from global economy



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.



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Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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