Dr Robert Koopman, Chief Economist of the World Trade Organization
The outbreak of COVID-19 has had a devastating impact on cross-border trade and investment. Factory closures across China – the world’s second-largest economy and biggest goods exporter – have led to bottlenecks in global value chains, giving rise to a ripple effect across the global economy. While China is now recovering from the pandemic, crisis-hit Europe and the United States are experiencing a host of demand issues.
According to the UN Conference on Trade and Development (UNCTAD), global GDP could be impacted by US$1-2 trillion over the course of the year. In a broadcast on March 25, Director-General of the World Trade Organization (WTO) Robert Azevedo stressed the importance of keeping supply chains open and allowing maritime trade and cross-border transport to continue amid this crisis. Trade not only allows for the efficient production and supply of basic goods and services, medical supplies and equipment, food and energy, but also the bringing about of stronger economic recovery, once the medical crisis begins to recede.
In this exclusive video briefing for Asia House Corporate Members, Dr Robert Koopman, Chief Economist of the WTO, will share his analysis on the fallout from the COVID-19 outbreak and its impact on trade in 2020 and 2021. Having recently been appointed to lead a WTO taskforce looking at defining the global trade response to COVID-19, Dr Koopman will also share his views on the WTO’s role in addressing the crisis.
This briefing is being held exclusively for Asia House Corporate Members and is part of an ongoing series of Asia House digital events with senior officials in Asia as the world grapples with the coronavirus outbreak.
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