By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: Global Markets Returning $BABA
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Asia > China > Global Markets Returning $BABA
China

Global Markets Returning $BABA

Shayne Heffernan Ph.D.
Last updated: September 14, 2023 12:05 am
Shayne Heffernan Ph.D.
Share
3 Min Read
Bangkok iStock 1362034074 scaled 1
SHARE

“Re-globalization is in our common interest,” Ralph Ossa, chief economist of the World Trade Organization (WTO), told Xinhua in a recent interview.

According to Ossa, re-globalization means increased international cooperation and broader integration and is key to addressing the pressing challenges of our time and to building a secure, inclusive and sustainable future.

On Tuesday, the WTO published the 2023 edition of the World Trade Report. This flagship document presents new evidence of the benefits of broader, more inclusive economic integration as early indications of trade fragmentation threaten to unwind growth and development.

The report aims at challenging the rising trade-skeptic narrative, which suggests that international trade is an obstacle to building a more secure, inclusive and sustainable world, he said. Such narrative is “fundamentally different from the narrative that has been guiding trade policymaking since 1947.”

“Globalization is really at a crossroads,” as the tide is turning against it, but there’s still time to act, he said.

20230914cdd242313d3c4751ae50eaa2a1f206e5 CbsbeeE007004 20230914 CBMFN0A001

Trade policy tensions are on the rise and the first signs of fragmentation along geopolitical lines are already visible, but overall trade is holding up strong, hence the talk of de-globalization is certainly exaggerated, he noted.

“The economic costs of fragmentation are going to be large,” Ossa said. A simulation made by WTO economists suggests that in the worst-case scenario of full geopolitical rivalry, global incomes on average will fall by 5 percent, and trade flows on average will fall by 13 percent, he added.

To maintain peace and security, to reduce poverty and inequality, and also to achieve a sustainable economy, “we need to embrace trade and not reject it … we also need a multilateral trading system,” he stressed.

According to the chief economist, the WTO’s Trade Facilitation Agreement, which entered into force on Feb. 22, 2017, has increased trade by 231 billion U.S. dollars. These gains have particularly accrued to developing countries, indicating that the agreement takes important steps towards re-globalization, he said.

20230914cdd242313d3c4751ae50eaa2a1f206e5 CbsbeeE007004 20230914 CBMFN0A002

Speaking of China’s role in the re-globalization process, Ossa said that China is a supporter of the multilateral trading system and also of globalization.

China has benefited from participating in the multilateral trading system and has achieved spectacular economic growth, lifting millions of people out of poverty, thereby giving hope to developing countries around the world, he added

You Might Also Like

Hotels as Art Galleries in Asia

125 Public Companies Now Hold Bitcoin

Ferrari Hypersail

Banking Apocalypse, Bitcoin’s Just the Beginning

Bitcoin at ATH, What Next?

TAGGED:alibabastocks

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article F5lpINgXQAQ79C FBX to Burn 800m 80% of Tokens During Token2049
Next Article NASDAQ 1200 T2 Biosystems, Inc. $TTOO in the Buy Zone
Buy Bitcoin

Buy Bitcoin

Latest News

Saint Francis of Assisi in Ecstasy Caravaggio c.1595
St. Francis: The Deeds You Do Today
Catholic Featured Headline News Lifestyle Lifestyles of the RIch and Famous Living Luxury Opinion Politics Shayne Heffernan July 11, 2025
Screenshot 26 6 2025 132527
Tokenization and the Future of Financial Markets
Bitcoin Blockchain DeFI Digital Assets Economy Headline News KXCO Politics USD July 11, 2025
photo 2025 03 03 07 22 06
InfoFi: The Latest Abomination in Crypto
Crypto Featured Headline News Shayne Heffernan on Investments July 10, 2025
czi0oawj8y561
Asia’s Growth Resilience Amid U.S. Tariffs
America Asia Asia Business Featured Headline News KXCO Politics USD July 10, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?