WTO chief sees bigger than expected trade contraction
PARIS (Reuters) - World trade volume is likely to contract by a record 10 percent this year, a "huge drop", rather than the 9 pct forecast by the World Trade Organisation in March, WTO Director-General Pascal Lamy said on Wednesday.
"That's the situation and I'm afraid I can't read any good news in my trade numbers," Lamy told Reuters Television.
Lamy said he was hearing from the WTO's 153 members that they wanted to conclude the long-running Doha round to free up world trade in 2010.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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