Making trade an engine of growth for all

The role of trade in the global economy is at a critical juncture, says a joint report from the IMF, World Bank and WTO, published on 10 April.

Increased trade integration helped to drive economic growth in advanced and developing economies in the latter part of the 20th century. At the same time, it left many individuals and communities behind, notably in advanced economies. According to the report, Making Trade an Engine of Growth for All, the anti-trade mood was evident long before last year’s US presidential election, although job losses in certain sectors or regions have to a large extent mostly resulted from technological changes rather than from trade.

The report says that with the right policies, countries can benefit from the great opportunities that trade brings and lift up those who have been left behind. Those polices ease adjustment to trade as well as strengthen overall economic flexibility.