The World Trade Organization issued a statement 27th, saying that as a result of the escalation of trade conflicts between major economies and tighter monetary policy in developed countries, the Global trade growth forecast for this year and two is down.
The World Trade Organisation has announced that it will reduce the global volume of goods traded in 2018 from a forecast of 4.4% in April to 3.9% per cent, lowering its growth forecast from 4% to 3.7% next year. WTO Director-General Azevedo said that while trade growth remained strong, its downward trend reflected the impact of the escalation of trade conflicts. "It is more important for the government to try to resolve differences and keep restraint than ever before," he said.
Moreover, the WTO argues that tighter monetary policy in advanced economies could result in outflows of capital from developing countries and emerging economies, which would have a negative impact on trade.