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WTO warns trade fragmentation could cut GDP 5.1%

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Story summary
  • The World Trade Organization urges members to reform global trade rules to prevent fragmentation.
  • 166 WTO members missed a reform deal at the March ministerial meeting in Yaounde, Cameroon.
  • WTO economists warn fragmentation could cut global GDP by 5.1% and exports by 18.6% by 2050.
  • Enhanced multilateral cooperation could raise global GDP by 2.9% and increase exports nearly 18%.