The outlook for the global economy has slightly improved since the WTO’s most recent trade forecast was issued in October of last year but the pace of trade expansion in 2023 is still expected to be subpar, weighed down by the ongoing conflict in Ukraine, stubbornly high inflation, tighter monetary policy and financial uncertainty.

The recent months have refuted expectations that relations between Moscow and Beijing were «fragile» and demonstrated a common strategic vision and willingness to support one another in addressing complex foreign policy challenges.