Global trade slowdown is far worse than projected and the trend is leading to greater protectionism, writes FICCI president.
If you are concerned with slowdown in world trade, think again. It is indeed far worse than what we commonly believe. As the July-report of ‘Global Trade Alert’ pointed out, world trade is not just slowing down – the fact is it has not grown at all since January 2015. Such a prolonged phase of ‘no growth’ in global trade is worrisome and expectedly, it is accompanied by a spurt in protectionism.
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