WTO cites slowdown from protectionism
The World Trade Organization indicates that political blocs and geopolitical unrest threaten to disintegrate the global trading system, potentially leading to a decline in global GDP of up to 6.9% by 2050, with exports decreasing by as much as 27%. The organization calls for urgent reforms in international trade rules to prevent this deterioration, noting that weakened multilateral cooperation threatens to reduce economic growth and increase tensions—particularly amid rising government intervention, digital transformations, and political shifts. The report emphasizes that fostering sustainable cooperation could boost overall production by approximately 2.9% and strengthen exports, while warnings suggest that the collapse of the current system would impose hefty costs on both developing and developed economies alike.
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