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2023 World Trade Report: Re-globalization
October 17 , 2023
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- The 2023 World Trade Report, published by the WTO, explores the role of international trade in building a more secure, inclusive, and sustainable world.
- The report advocates for “re-globalization,” expanding trade integration to more economies, people, and issues.
- Trade flows within hypothetical geopolitical “blocs” are growing faster than those between them.
- It is indicating a shift towards friend-shoring.
- Re-globalization is a concept that advocates expanding and strengthening international trade and economic integration, focusing on making globalization more inclusive, secure, and sustainable.
- It emphasizes the need to address contemporary global challenges, such as geopolitical tensions, economic inequality, and climate change, through greater cooperation and trade integration among nations.
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