emirates7 - The World Trade Organization (WTO) has expressed support for the upcoming trade discussions set to take place tomorrow, Saturday, in Geneva between the United States and the People’s Republic of China, calling them a constructive and encouraging move toward reducing tensions.
In a statement issued today in Geneva, WTO Director-General Ngozi Okonjo-Iweala highlighted the importance of ongoing dialogue between the world’s two largest economies, stressing that such engagement is vital for easing trade frictions and protecting global economic stability.
WTO projections indicate that if the global economy continues to fragment into rival blocs, it could lead to a long-term of approximately 7 percent in real global GDP, with the most damaging effects likely to fall on developing and least-developed nations.
In a statement issued today in Geneva, WTO Director-General Ngozi Okonjo-Iweala highlighted the importance of ongoing dialogue between the world’s two largest economies, stressing that such engagement is vital for easing trade frictions and protecting global economic stability.
WTO projections indicate that if the global economy continues to fragment into rival blocs, it could lead to a long-term of approximately 7 percent in real global GDP, with the most damaging effects likely to fall on developing and least-developed nations.