WTO Warns Against Rising Trade Protectionism and Fragmentation, Calls for Renewed Economic Integration
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WTO flags rising unilateral trade policies like export restrictions and carbon taxes, citing a 9-fold increase in trade concerns raised since 2015.
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Such unilateral measures threaten a downward spiral of retaliation and a fragmented global economy of regional blocs.
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WTO warns against declining trade globalization, citing new industrial strategies and supply chain limits.
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Trade strategies like reshoring, nearshoring, and friendshoring may fragment the global economy along regional/geopolitical lines.
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WTO argues for renewed integration and "re-globalization" to tackle problems like security, poverty and climate change.