CLEAN : WTO says goods trade surging past pre-pandemic level (2)

The transcript discusses the upcoming 12th Ministerial Conference and emphasizes the need for member states to collaborate on a strong WTO response to the COVID-19 pandemic. It highlights the significant impact of the pandemic on global trade, with a 5.3% shrinkage in merchandise trade volume in 2020. The text also addresses the issue of vaccine inequity, which is worsening economic disparities and could lead to more dangerous COVID-19 variants. The speaker stresses that vaccine policy is integral to economic and trade policy, advocating for rapid vaccine production and equitable distribution to sustain global economic recovery.

What significant event in 2020 led to a 5.3% decrease in global merchandise trade volume?

• The 12th Ministerial Conference

• A major natural disaster

• The onset of the COVID-19 pandemic

• A global financial crisis

How does inequitable access to vaccines affect global regions?

• It has no impact on economies

• It promotes economic equality

• It exacerbates economic divergences

• It leads to uniform economic growth

What is a potential consequence of allowing vaccine inequities to persist?

• Increased global trade

• Immediate end to the pandemic

• Emergence of more dangerous COVID-19 variants

• Uniform vaccine distribution

What is necessary to sustain the global economic recovery according to the transcript?

• A strong WTO response to the pandemic

• Increased tariffs on trade

• Reduction in vaccine production

• Isolationist economic policies

How are vaccine policy, economic policy, and trade policy described in the transcript?

• As outdated policies

• As unrelated policies

• As interconnected policies

• As opposing policies