Global trade to drop by 9% in 2009
Pascal Lamy, the head of the World Trade Organisation, has announced that he has seen no improvement in global trade and has restated his forecast of a 9% drop in international trade this year compared with 2008.
Lamy was speaking at a press conference in Paris and said, "I don't see any positive signs. If one looks at the foreign trade figures from China or India, nothing stands against the fact that we're in the middle of the crisis."
WTO hasn't yet set an international trade forecast for 2010.
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