U.N. trade body forecasts sluggish global economy as inequality widens
A new report says the world's marketplace appears to be growing at a modest rate that's defined as a global recession.
U.N. Conference on Trade and Development (UNCTAD)
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Developing nations forecast to lose US$800B from debt and slowdown
UNCTAD said it expects global growth in 2023 to drop to 2.1% but only if the financial fallout from higher interest rates is contained to the bank runs and bailouts of the first quarter.
U.N. warns world 'on edge of recession'
The world is on the brink of recession, UNCTAD said in projecting growth slowing to 2.2% in 2023 with cascading crises of debt, health and climate.
WTO clinches trade deals deep into overtime
WTO's first ministerial conference in four and a half years overcame bitter divisions to reach consensus on an 'unprecedented' six-item package deal.
WTO tackles food, vaccines, fishing subsidies
Hunger, vaccine patents and fishing subsidies top the agenda as the global trade body holds its first ministerial conference in four and a half years.
New talks set for U.N. high seas treaty proposal
Proponents of a U.N. global high seas treaty for protecting biodiversity are set to resume talks in August with the goal of approving it as soon as possible.
E-commerce rises to 19% of all retail purchases
Global online sales among seven major economies jumped to almost one-fifth of all retail sales last year during the pandemic, UNCTAD reported.
China overtakes U.S. in new foreign investment
China surpassed the United States as the world's top recipient of foreign direct investment with inflows of US$163 billion in 2020, new UNCTAD figures show.
UNCTAD shows 49% foreign investments drop
Global foreign direct investment plummeted by 49% during the first half of 2020 compared with a year ago due to the pandemic, UNCTAD reported.
Rebuilding tourism industry a U.N. priority
The pandemic could eliminate 40% of global tourism's 300 million jobs — one of every 10 — and trillions of dollars essential to developing economies.
Global tourism may lose US$3.3 trillion
The global coronavirus outbreak could cause as much as US$3.3 trillion in losses to the global tourism industry if the pandemic lasts a year.
U.N. forecasts foreign investments plunge
New business investment globally will likely drop by up to 40% this year and 10% in 2021 from the COVID-19 pandemic, UNCTAD reported.
U.N. warns of US$2 trillion losses to virus
Trade economists who advise the U.N. warned COVID-19 could cost the world economy up to US$2 trillion in 2020 and push nations into recession.
UNCTAD sees US$50 billion exports drop
The global coronavirus outbreak likely caused a US$50 billion decline in worldwide manufacturing exports from China in February alone, UNCTAD reported.
UNCTAD says growth rate fell in 2019
The global economy slowed to a 2.3% growth rate last year, its lowest of the decade, from rising trade tensions and slowing investment, UNCTAD said.
UNCTAD warns of 2020 global recession
UNCTAD cautioned there is "a clear and present danger" of a global recession in 2020 due to trade tensions, corporate debt and weaker growth worldwide.