Shock to world trade: UN describes situation with Strait of Hormuz
The de facto closure of the Strait of Hormuz due to the US and Israeli war with Iran has been a shock to global trade, as reported by the UN.
world trade
China and Russia become world leaders in trade
Over the past 2022, China and Russia have become world leaders in trade growth. According to statistics, they broke their own records for trade surplus: China increased it by a third, to $877 billion, and Russia increased it by 1,7 times, to $333,4 billion.
UN: World trade reaches all-time high
Global trade is expected to be worth about $28 trillion this year – an increase of 23 per cent compared with 2020 – but the outlook for 2022 remains very uncertain, economists said. …
World trade enters ‘crisis moment’ as US shuts down WTO Appeals Court
Its shutdown would leave countries and companies contending with “the law of the jungle"
