The World Trade Organization acknowledges that global trade alone is insufficient in combating poverty. While trade brings opportunities, additional measures like competition policy, infrastructure development, strong financial markets, and education are essential.
Countries with low foreign investments and commodity exports, especially those with lower incomes, have seen minimal benefits. Despite a threefold increase in per capita income in poorer nations from 1995 to 2023, income inequality remains a pressing issue.
The pandemic and financial crises have hindered progress. Enhancing social support and cooperation is crucial.
Germany, among high-income nations, exemplifies the disparities. The WTO warns that nearly 30% of global employment is tied to exports, but the rise of protectionism and trade wars jeopardizes economic growth, especially for low-income countries representing a mere 1% of global trade.
infobud.ai is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand