World Trade Embarks On A Slow Recovery Path
03/26/2010
"We see the light at the end of the tunnel and trade promises to be an important part of the recovery. But we must avoid derailing any economic revival through protectionism," said Director-General Pascal Lamy.
While exports from developed countries will increase as well, by 7.5 percent, the figures don't represent a massive rebound scenario. Experts say it will take more time to recover from exports plunging 13.9 percent in the United States, 14.8 percent in Europe and 24.9 percent in Japan.
The economic hurdles in the past few years ignited a 12.2 percent contraction in global trade, the biggest since World War II.
If trade does continue to expand experts say it would take another year for trade volumes to surpass the peak level of 2008.
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