The future of global trade
- Author: United Nations
- Main Title: World Economic Situation and Prospects 2021 , pp 39-70
- Publication Date: January 2021
- DOI: https://doi.org/10.18356/9789210054980c005
- Language: English
The COVID-19 pandemic resulted in a contraction in international trade in 2020, as widespread lockdowns triggered a collapse in demand and significant disruptions to global production networks. As global economic activity recovers, global trade activity will improve but, until 2022, it is projected to remain below pre-pandemic levels. Beyond these short-term dynamics, the pandemic shock is likely to accelerate ongoing structural trends-including the evolving configuration of global value chains (GVCs), the rise of the digital economy, and the increasingly significant role of trade in services-which are shaping the future of the global trade landscape. In addition, the rules-based multilateral trading system is facing unprecedented challenges amid ongoing disputes at the World Trade Organization (WTO) and rising protectionism in parts of the world.
-
From This Site
/content/books/9789210054980c005dcterms_title,dcterms_subject,pub_keyword-contentType:Journal -contentType:Contributor -contentType:Concept -contentType:Institution105