The World Economy

2000 ◽  
Vol 172 ◽  
pp. 33-61
Author(s):  
Nigel Pain ◽  
Paul Ashworth ◽  
Dawn Holland ◽  
Florence Hubert ◽  
Dirk Willem te Velde
Keyword(s):  
Economic Activity ◽  
World Trade ◽  
World Economy ◽  
Rate Of Growth ◽  
Regional Markets ◽  
The World ◽  
Trade Growth ◽  
Merchandise Trade ◽  
First Time

Global economic activity has continued to gain momentum in recent months and a cyclical upturn is now clearly underway. The rate of growth of world GDP is projected to rise to just under 4¼ per cent this year, from an estimated outturn of 3.4 per cent last year. Growth is expected to accelerate in all the major regional markets for the first time since 1994. The improving economic prospects are already apparent in the trade statistics for the latter part of last year. World trade growth, measured in terms of merchandise trade volumes, is expected to rise by 9 per cent this year from 5½ per cent in 1999.

The World Economy

2001 ◽  
Vol 175 ◽  
pp. 29-58
Keyword(s):  
Developing Countries ◽  
Latin America ◽  
Eastern Europe ◽  
Economic Activity ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
The World ◽  
World Economic ◽  
Merchandise Trade

World economic activity is estimated to have risen by 4¾ per cent in 2000, the fastest rate for more than a decade. Growth accelerated in all the major geographical areas last year, with GDP rising by an estimated 4.2 per cent in the OECD economies and activity recovering strongly in many developing countries in Asia, Latin America and Eastern Europe. World trade was exceptionally buoyant, with merchandise trade volumes rising by an estimated 13 per cent. However there is now clear evidence that the growth of the global economy has passed its peak.

The world economy

1998 ◽  
Vol 165 ◽  
pp. 35-42
Author(s):  
Nigel Pain
Keyword(s):  
Capital Market ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Domestic Demand ◽  
The World ◽  
Asian Economies ◽  
Trade Growth ◽  
The Impact ◽  
The Capital Market

Developments in the Asian economies have clearly begun to be felt in the wider global economy in recent months. It has always been expected that the OECD economies would be affected by the aftermath of the capital market turmoil last year, although the timing and magnitude of the impact was difficult to predict. Domestic demand in the affected Asian economies has proved much weaker than expected, with the effects magnified by a continued downturn in Japan. GDP fell by 5¾ per cent in Korea in the first quarter of this year and by 1¼ per cent in Japan. The aggregate volume of merchandise imports in Asia is expected to decline by around 5½ per cent this year, with falls of up to 25 per cent in countries such as Korea, Thailand and Indonesia. This largely accounts for our projected decline in world trade growth to under 6 per cent this year from an estimated 9¾ per cent in 1997.

scholarly journals The competitiveness of Czech agrarian trade within the context of the global crisis

2013 ◽  
Vol 59 (No. 4) ◽  
pp. 183-193 ◽  
Author(s):  
L. Smutka ◽  
J. Burianová
Keyword(s):  
Czech Republic ◽  
World Trade ◽  
World Economy ◽  
Agricultural Trade ◽  
High Rate ◽  
The Czech Republic ◽  
The World ◽  
Territorial Structure ◽  
Merchandise Trade ◽  
Very High

World trade underwent a significant shock within the recent years, which caused a decline in the world economy primarily in the year 2009. Within the following years (2010 and 2011), the high rate of growth from the years preceding the crisis could not be restored. The crisis had an impact on all segments of the merchandise trade, whereby the trade in agricultural and food products was affected the least by the crisis. In the case of the Czech Republic, the crisis of the global and national economy was reflected in the case of agricultural trade primarily by the way of a decline in the rate of the growth of export, which was very high in the period prior to the crisis. As far as the territorial structure and commodity structure of agricultural trade is concerned, their development in the years 2008–2011 was not affected in any largely significant manner. In relation to the main objective of this article, which was to identify the effects of the crisis on the competitiveness of Czech agricultural trade, it may be stated that the crisis itself did not worsen the competitiveness of agricultural trade in any significant manner.  

scholarly journals The position of developing countries in international trade

2004 ◽  
Vol 49 (162) ◽  
pp. 65-97
Author(s):  
Radovan Kovacevic
Keyword(s):  
Developing Countries ◽  
Developing Country ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Substantial Reduction ◽  
Steady Increase ◽  
The World ◽  
Trade Growth ◽  
Dramatic Shift

Recent years have seen a substantial reduction in trade policy and other barriers inhibiting developing country participation in the world trade. Lower barriers have contributed to a dramatic shift in the pattern of developing country trade -away from dependence on commodity exports to much greater reliance on manufactures and services. In addition, exports to other developing countries have become much more important. These changes have profound implications for the role played by developing countries in the world economy and the trade system. Developing countries have become major players in the global economy. The outward-oriented strategies of many economies in emerging Asia have been reflected in high trade growth and a steady increase in their share in the world trade.

The world economy

1998 ◽  
Vol 165 ◽  
pp. 3-3
Keyword(s):  
World Trade ◽  
World Economy ◽  
Banking System ◽  
Japanese Economy ◽  
List Type ◽  
South East Asia ◽  
Price Inflation ◽  
The World ◽  
Trade Growth ◽  
The Eu

•The Asia crisis will cut world trade growth by over a third in 1998.•The Japanese economy will contract by 1 per cent this year, prolonging the slump in the worst affected parts of South-East Asia.•A strong monetary stimulus and a restoration of confidence in the banking system are required to stimulate demand in Japan.•The risk of a Chinese devaluation has risen.•The EU will be the strongest performing region in the OECD in 1999 with growth of just over 2.5 per cent.•US consumer price inflation will rise sharply in 1999.

A Decade of the World Trade Organization and the Trade Performance of Muslim Countries

2010 ◽  
Vol 27 (4) ◽  
pp. 23-44
Author(s):  
Ruzita Mohd. Amin
Keyword(s):  
Developing Countries ◽  
World Trade Organization ◽  
World Trade ◽  
Developed Countries ◽  
Playing Field ◽  
Muslim Countries ◽  
The World ◽  
The Developed Countries ◽  
Merchandise Trade ◽  
Wto Agreements

The World Trade Organization (WTO), established on 1 January 1995 as a successor to the General Agreement on Tariffs and Trade (GATT), has played an important role in promoting global free trade. The implementation of its agreements, however, has not been smooth and easy. In fact this has been particularly difficult for developing countries, since they are expected to be on a level playing field with the developed countries. After more than a decade of existence, it is worth looking at the WTO’s impact on developing countries, particularly Muslim countries. This paper focuses mainly on the performance of merchandise trade of Muslim countries after they joined the WTO. I first analyze their participation in world merchandise trade and highlight their trade characteristics in general. This is then followed by a short discussion on the implications of WTO agreements on Muslim countries and some recommendations on how to face this challenge.

International Wool Study Group

1950 ◽  
Vol 4 (3) ◽  
pp. 545-546
Keyword(s):  
World Trade ◽  
Study Group ◽  
Wool Production ◽  
The World ◽  
Intergovernmental Collaboration ◽  
First Time

The International Wool Study Group met at London from November 7 to 9, 1949. The meeting noted that world wool production had increased slightly since the war to a point where it was equal to prewar production. The group for the first time decided to release for publication its report on the world wool situation and reports on the wool situation in member countries, unless requested otherwise; On the basis of review it was decided that no immediate problems called for intergovernmental collaboration in world trade of wool; although it was recognized that the problem of surplus stocks which had led to the establishment of the group in 1946 had largely disappeared, it was felt that the group would prove a useful means for the improvement of wool statistics and a useful body to which world wool problems could be referred.

The World Economy

2003 ◽  
Vol 185 ◽  
pp. 9-16
Keyword(s):  
Latin American ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Oil Industry ◽  
Private Sector Investment ◽  
Percentage Points ◽  
The Us ◽  
The World ◽  
Dollar Depreciation

The outlook for world growth this year has deteriorated since April, due to a sharp contraction in world trade in the first quarter of the year and failure to sustain the revival in private sector investment seen in the fourth quarter of 2002. We have as a consequence revised our projections for world growth this year down by ¼ percentage point. This reflects sharp downward revisions of ½–¾ percentage points in the Euro Area and Canada, both of whose exchange rates have continued to appreciate in effective terms, while the outlook for the US and Japan is broadly unchanged. Growth in Japan and the Euro Area stagnated in the first half of 2003, with recessions in Germany, Italy, the Netherlands and Austria appearing likely. The US and Canada, on the other hand, continued to expand, albeit more slowly than in the second half of 2002. Following two years of exceptional weakness, Latin American growth has started to revive, although Venezuela is still suffering from the 2 month stoppage in the oil industry earlier this year and Argentina has lost competitiveness due to a strong appreciation against the dollar. Growth has slowed in several Asian economies, notably South Korea, but China continues to expand rapidly, spurred by the competitiveness impact of the dollar depreciation and infrastructure preparations for the 2008 Olympics. This has helped sustain export growth from the rest of Asia despite the more widespread slowdown in world trade.

United States and Its Challenge to Multilateralism in the Global Economy

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.
Keyword(s):  
United States ◽  
Global Economy ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Bilateral Trade ◽  
Developing Economies ◽  
The United States ◽  
The Us ◽  
The World ◽  
Merchandise Trade

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

Chapter II. The World Economy

1974 ◽  
Vol 67 ◽  
pp. 17-30
Keyword(s):  
Rapid Growth ◽  
World Economy ◽  
Oecd Countries ◽  
Aggregate Output ◽  
Rate Of Growth ◽  
The World

The period of very rapid growth in the industrial world which had begun towards the middle of 1972 was over within a year. Between the first quarters of 1972 and 1973 the aggregate output of the OECD countries increased by about 7½ per cent. Since then, however, the rate of growth has probably been halved.

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