There's trade trouble ahead as the WTO trims down its growth forecast live from the

U.K.

This is the Marketplace Morning Report from the BBC World Service on the Annaburn, a very

good morning to you.

So you know how global trade has been trying to recover after the pandemic?

Well, the World Trade Organization or the WTO had originally thought that global exports

were grow by 1.7% this year, but now they've changed their mind and think it'll only grow

by 8.10% and this matters because a slowdown in global trade can affect how people live

around the world.

Ralph also, the WTO's chief economist says there are many reasons it's happening.

What has happened now is that we see by inflation in many industrialized countries that the resulting

a tight monetary policy, we see that China hasn't recovered quite as quickly as we had hoped

from the COVID restrictions that they imposed still in the last quarter of 2022 and we also

see the after effects of the war in Ukraine or the continuing effects of the war in Ukraine

that weigh down on the economy.

The reason though, it's not going to translate necessarily into such a diet picture next

year is that so with GDP growth kind of stabilizing between this year and next year, we think

that trade is also going to bounce back.

We talk about a lot about economies becoming more insular in their economic policies.

So does Ralph see a broad de-globalization happening?

No, so we definitely don't see any broad de-globalization that doesn't mean so I also don't want

to give off the wrong impression that doesn't mean that there's not cause for concern.

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