ACCORDING to a combined report of WTO-OECD-UNCTAD released yesterday,
G-20 governments have introduced more trade barriers, including
export restrictions, in the past six months than in previous periods since the
financial crisis began.
Although measures to lower trade barriers are also accelerating, new
import restrictive measures taken by G20 economies over the period October 2010
to April 2011 cover around 0.6% of total G20 imports which is also an increase
over the previous six months (0.3%). Export restrictions are also on the rise.
This adds to the cumulative total of world trade affected by new restrictions
since the crisis began. Despite the positive forecasts for 2011, the outlook for
world trade remains clouded by a number of significant risk factors. In addition
to the recent natural disasters in Japan, sovereign debt problems, rising prices
for food and other primary commodities, and unrest in major oil exporting
countries generate uncertainties for the near future.
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