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Wto Warns Against Protectionism As It Cuts 2013 Global Trade Forecast To 3.3%

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http://www.guardian.co.uk/world/2013/apr/10/wto-protectionism-global-trade-forecast

The World Trade Organisation has raised the spectre of growing protectionism as the latest threat to the struggling global economy as it warned that the threat of tit-for-tat trade wars loomed larger than at any time since the start of the financial crisis in 2007.

Pascal Lamy, the WTO's director-general, urged progress on the stalled Doha round of trade liberalisation talks as a bulwark against protectionist pressures after cutting his organisation's forecast for global trade growth this year.

"As long as global economic weakness persists, protectionist pressure will build and could eventually become overwhelming", Lamy said after announcing that the WTO had cut its forecast for 2013 global trade growth from 4.5% to 3.3%. "The threat of protectionism may be greater now than at any time since the start of the crisis, since other polices to restore growth have been tried and found wanting. To prevent a self-destructive lapse into economic nationalism, countries need to refocus their attention on reinforcing the multilateral trading system, " he added.

The WTO said global trade had increased by 2% in 2012, down from 5.2% in 2011 and the second weakest performance since records began in 1981. Only in 2009, when manufacturing production and exports collapsed during the deepest global slump since the second world war, has world trade been as weak as it was last year.

And the reality that numbers can't continually expand is lost on them.

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Only in 2009, when manufacturing production and exports collapsed during the deepest global slump since the second world war, has world trade been as weak as it was last year.

Seems like they don't like to mention actual figures for 2009.

Apparently it was about minus 12%.

It's never fully recovered and any figures they decide to use since that economic collapse has to include the effect of widespread QE and other similarly crazy policies.

Edited by billybong

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God forbid countries actually support themselves as independent nations and repudiate trade based models. The last thing the sickos at the WTO want is nations to realize they cant all have trade surplus'es. One world government barstids.

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God forbid countries actually support themselves as independent nations and repudiate trade based models. The last thing the sickos at the WTO want is nations to realize they cant all have trade surplus'es. One world government barstids.

http://www.economist.com/node/21538100

Yet they ignore the biggest imbalance of all: the current-account surplus that planet Earth appears to run with extraterrestrials. In theory, countries' current-account balances should all sum to zero because one country's export is another's import. However, if you add up all countries' reported current-account transactions (exports minus imports of goods and services, net investment income, workers' remittances and other transfers), the world exported $331 billion more than it imported in 2010, according to the IMF's World Economic Outlook. The fund forecasts that the global current-account surplus will rise to almost $700 billion by 2014.

It's OK we are already running a surplus.

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If India had a catastrophic rice/other food crop failure there would be chaos, posssibly millions dead and agrcultural prices and nominal trade would show amazing growth according to these bozos who do not look any further byond headline growth rates.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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