Today's Edition
GENEVA (WAM)
The World Trade Organization (WTO) has welcomed the trade talks scheduled for Saturday, in Geneva between the United States and the People’s Republic of China, describing them as a positive and constructive step towards de-escalation.
In a statement distributed to journalists in Geneva today, WTO Director-General Ngozi Okonjo-Iweala emphasised that sustained dialogue between the world’s two largest economies is crucial to easing trade tensions and safeguarding global growth.
According to WTO estimates, the continued division of the global economy into competing blocs could result in a long-term decline of around 7 per cent in real global GDP, with particularly severe consequences for developing and least-developed countries.
