WTO Director-General Ngozi Okonjo-Iweala invited world leaders, government officials, and businesspeople to “just chill” and “take a deep breath” amid rising trade policy uncertainties during her participation in the World Economic Forum Annual Meeting in Davos, Switzerland last week.
“We've done simulations that show that fragmenting into two geopolitical trading blocs and adding trade policy uncertainty may lead to a real loss in global GDP in the longer term of 6.4%. This is like losing the economy of Japan and Korea combined.”
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