How to Stave Off the Recession? Trade Globally.

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What the world needs now is not love sweet love but more trade - international trade that is.

Director-General Pascal Lamy, in his annual report to members on developments in the international trading environment, said: “The world needs a renewed and stronger commitment from all Governments to revitalize the multilateral trading system that can restore economic certainty at a time when it is badly needed. The policy determination to resist inward-looking policies seems to be faltering in some countries, even as the world economy needs more trade to stave off recession.”

Learn more here.

Note:  Information presented covers the period mid-October 2011 to mid-October 2012.  The full report is available on the WTO website.

Globalization of Services Is Still In Infancy

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According to WTO Director-General Pascal Lamy:

“The global economy is being transformed at an unprecedented speed and at the heart of that transformation is the services economy. (…) Services underpin every part of the production process, from research and development to design, engineering, financing, transportation, distribution and marketing. In short, without services, there would be little value-added and innovation.”

Learn more about the growth of the services economy here.

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