This monthly roundup brings you a selection of the latest news and updates on global trade.
Top stories from international trade this month: Trade growth to slow sharply in 2023; Supply chains seem to be getting back to normal; US cuts off some semiconductor chip exports to China
Trade growth to slow sharply in 2023, WTO says
A slowdown in global trade growth is on the horizon. Higher energy and food prices are likely to combine with rising interest rates to curb import demand next year, the World Trade Organization (WTO) forecasts. It is also warning of a possible contraction in trade if the war in Ukraine worsens.
The WTO has cut its trade growth forecast for 2023 to 1% – a sharp drop from a previous prediction of 3.4%.
Source : www.weforum.org/agenda/2022/10/trade-investment-supply-chains-us-climate-action/ by videos@weforum.org (World Economic Forum) - October 14, 2022