Economics
WTO Says Global Trade Collapse May Be Worst in a Generation
- WTO predicts global trade flows may contract as much as 32%
- Drop in world commerce might be biggest since Great Depression
Photographer: Qilai Shen/Bloomberg
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The coronavirus pandemic could cause a deeper collapse of international trade flows than at any point in the postwar era, the World Trade Organization said.
The Geneva-based trade body presented two possible scenarios for global trade in the years to come in a report published Wednesday, noting that the unprecedented nature of the health crisis could result in a wide range of outcomes.