The Recession May Be A Thing in the Past
According to the Journal of Commerce, the economy has seen a 3.5 percent increase in the third quarter, making experts believe the recession may soon be over. Economists feel the government stimulus plan helped consumers spend, particularly in the auto industry.
Imports of goods grew 20 percent after falling 16.5 percent in the previous quarter while exports of goods expanded 21.4 percent compared with a 6.3 percent decline in the second quarter.
Looking forward to see how the fourth quarter ends.
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Global Trade to Drop 9% in 2009
On Friday, the Wall Street Journal reported that the World Trade Organization’s head, Pascal Lamy said he saw no improvement in global trade in 2009 compared to 2008, and confirmed his forcasted drop of 9 percent in international trade by volume.
With governements pouring money into failing industries, such as the automotive, he hasn’t seen a disruption global trade as of yet.
“Everyone has subsidized their auto sector. From our point of view, which is to make sure that global trade isn’t hampered, no state has acquired for itself an unfair advantage because of these subsidies,” Lamy said.
What Lamy is most concerned about with the drop in global trade is for the developing countries that have been most affected by this decrease. He stressed this point at the last G20 summit in London. WTO needs more initiatives aimed at supporting trade finance, so that global trade remains open to developing countries, who rely on it for economic support.
There is no forecast for global trade in 2010.
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