The World Trade Organization has urged member states to reform global trade rules to reduce the risk of trade fragmentation, according to a ChainCatcher newsflash. The organization said the cost of inaction could be significant over the long term. It warned that without reform, global GDP could fall by 5.1% by 2050, while exports could decline by 18.6%.
The WTO also outlined a more constructive scenario tied to stronger multilateral cooperation. In that case, global GDP could rise by 2.9%, and exports could grow by nearly 18%. The update focused on the contrast between a fragmented trade environment and a more coordinated multilateral framework, with the WTO calling on members to move ahead with rule changes.
The World Trade Organization urged member countries to reform global trade rules to avoid the risks of trade fragmentation, according to ChainCatcher.
The organization warned that without reform, global GDP could drop 5.1% by 2050 and exports could fall 18.6%. It also said stronger multilateral cooperation could lift global GDP by 2.9% and increase exports by nearly 18%.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
