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.
- Tweet this
- Share this
- Digg this
- Weinstein brothers sue Time Warner over 'Hobbit' films
- UPDATE 2-Budget deal headed to vote in U.S. House, passage predicted
- SPECIAL REPORT - In the land of the holy cow, fury over beef exports
- U.S. foundation buys Hopi masks at auction to return to tribe
- CANADA STOCKS-Fed fears yank TSX to biggest drop in 5-1/2 months
One night in August on the Delhi-Jaipur highway, an angry mob ran amok. The rioters were incensed over an issue arguably as old as India itself: the eating of beef. Perhaps surprisingly in a country where so many people view cows as sacred, India could soon become the world's biggest beef exporter, according to the United States Department of Agriculture (USDA). Full Article
Amount of dirty money leaving developing world jumped 14 pct in 2011 - report. Full Article