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War in Ukraine could halve 2022 global trade growth: WTO
Russia’s war in Ukraine could almost halve world trade growth this year and drag down global GDP growth too, the World Trade Organization projected Monday. The WTO said that the Russian invasion had not only created a humanitarian crisis of “immense proportions” but had also dealt a “severe blow” to the global economy. The Geneva-based global trade body said that while the shares of Russia and Ukraine in overall world trade and output are relatively small, they are important suppliers of essential products, notably food and energy. “Using a global economic simulation model, the secretariat projects that ... (full story)