The tit-for-tat trade dispute between China and the United States may do little to protect domestic producers in either country and could have “massive” implications on the global economy unless it is resolved, United Nations experts said on Monday.
“A global economic downturn and a lack of political leadership are a combination that could end very badly for the world’s economy”, a leading UN financial expert has warned. In an interview with Daniel Johnson of UN News, Richard Kozul-Wright, a globalization expert and Director with the Trade and Development agency UNCTAD, gives his assessment of the “entrenched” economic factors dragging down growth.
Millions of jobs in the Asia and Pacific region have been put at risk by conflicts over trade, despite a recent agreement not to escalate tit-for-tat tariffs by the United States and China, according to a new regional UN report.
Better transport, logistics and foreign investment are essential to smooth the way for the African continent to reduce trade hurdles, according to the United Nations Conference on Trade and Development (UNCTAD).
Maritime trade is stronger than it’s been for five years, but “tit-for-tat” tariff battles and restructuring by shipping companies threaten to disrupt its role as a key player in global commerce, the UN said on Wednesday.
The international community has been urged by the UN Secretary-General to show solidarity with the Central African Republic (CAR) in order to rebuild the country and reduce the suffering of its people.
A United Nations report out Wednesday revealed the poor maritime connectivity continues to keep smaller and weaker economies from reaching world markets, highlighting the need for evidence-based improvements to trading systems and procedures to address these challenges.