The future of global trade
- Autor: United Nations
- Main Title: World Economic Situation and Prospects 2021 , pp 39-70
- Fecha de la publicación: enero 2021
- DOI: https://doi.org/10.18356/9789210054980c005
- Language: Inglés
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.
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