Global trade growth necessary for pandemic recovery, says WEF president

In its 16th annual Global Risks Report, the World Economic Forum (WEF) has stressed the inequalities and challenges that countries and their exporters face in their recovery from the pandemic, as well as the continued threat to business of climate change and geopolitical tensions. According to the research, in the short term, infectious diseases and livelihood crises are the biggest risks in the world, followed by extreme weather events, cybersecurity failure and digital inequality. For business, the economic, technological and reputational pressures of Covid-19 are driving a disorderly “shakeout”, threatening to create a large cohort of workers and companies that are left behind in the markets of the future, says the report. Businesses most at risk are minority and/or women-owned firms and SMEs. Regardless of geography and market type, women-led businesses have been more adversely affected by the pandemic than those led by their male counterparts. For countries that are emerging from the current crisis, the research states that governments are experiencing tensions as they continue providing fiscal support for struggling businesses, while at the same time managing financial stability and pressure on reserves and currency to ensure a sustainable economic recovery. Trade is essential for economic growth; countries that… continue reading

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Source: CTRM Center

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