The years since the global financial crisis did not see the return of strong global trade and economic growth rates of the early noughties, but with Donald Trump’s election as US president, protectionist rhetoric evolved into a full trade war with China. Although equity markets were optimistic about the signing of a Phase One deal in January, Covid-19 has given rise to practical and political issues that make the outlook for global trade look questionable. Lockdowns have led to dramatic falls in demand and brought the travel and leisure industry to a stop, clipping the wings of an industry that had been a bright spot for growth. The WTO has warned that it expects a significant rise in costs associated with extra border checks and extra time in transit as a result of travel restrictions that have been put in place.
To read the full article please click on the link below:Continue reading article
1st June 2020