The World trade organization has reported the fall in the Global Economy Trade this year. The trade rate this year in April was reported to be 2.8% which has come down to 2/3rd of its previous figure and now looks like 1.7%. This downfall is a result of the slowdown of China’s trade in the USA.
This is the lowest in the last 15 years. The WTO Director-General Roberto Azevedo said that this could be the wakeup call for the governments of the lacked behind countries.
The report quoting the Director-General said “we need to make sure that this does not translate into misguided policies that could make the situation much worse, not only with the perspective of trade but also for job creation and economic growth and development which are so closely linked to the open trading system.”