The changing face of world trade
Thursday, 22 May, 2003
World trade rebounded in 2002, growing by 2.5% compared to a 1% decline in 2001. But the real story is in the detailS. China and the transition economies are gaining prominence while The Americas, Western Europe, and Japan are stuck in neutral.
According to data recently released by the World Trade Organization, merchandise trade increased by 2.5% in 2002. This news is encouraging, especially considering the negative growth experienced in 2001 (the first negative year since 1982) caused in part by the bursting of the IT bubble and a sharp decline in capital investments.
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