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.
In recent weeks, Chinese President Xi Jinping has hosted a batch of visiting foreign leaders.
The U.S., European and Japanese economies are seen in the latest forecasts as likely to underperform
China remains a key market for European companies as its economic resilience and large domestic market are vital for them to stay globally competitive, according to a survey released on Monday by the China Council for the Promotion of International Trade.
Minsk hosted a regular session of the Eurasian Intergovernmental Council. The event was attended by Karen Karapetyan, Prime Minister of the Republic of Armenia, Roman Golovchenko, Prime Minister of the Republic of Belarus, Akylbek Japarov, Prime Minister of the Republic of Kyrgyzstan, Mikhail Mishustin, Prime Minister of the Russian Federation, Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission, and by others.
What results did the main «factory of the world» show at the end of the year?
Companies have only partly addressed the weaknesses in global supply chains exposed by the coronavirus pandemic. In the face of new challenges, finishing the job is even more urgent.
Economic growth has picked up this year, helped by strong policy support, the ongoing deployment of effective vaccines and the gradual resumption of many economic activities, particularly in service sectors.
China's factory output and retail sales growth slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted business operations, adding to signs the economic recovery is losing momentum.
The economic sentiment in the Eurozone is reaching new heights, suggesting the long-awaited recovery is finally gathering speed. But risks remain, including the spread of COVID-19 variants leading to new restrictions, and scarce input factors for the European industry.