WTO Slashes Forecast for 2023 Merchandise Trade Growth

The video discusses the pandemic's impact on global merchandise trade, highlighting a boom that is now unwinding, particularly in East Asia. Factors like inflation, higher mortgage repayments, the European energy crisis, and the Ukraine war contribute to a trade slowdown. Despite efforts to globalize trade through agreements like the CP TPP, reshoring trends are emerging. However, services trade, especially in tourism and education, shows growth potential.

In what ways are companies adapting their production strategies in response to current trade challenges?

What role do trade agreements play in the current global trade landscape?