British Secretary of State for International Trade Liam Fox delivers a speech during the WTO Public Forum "Inclusive Trade" at the headquarters of the WTO in Geneva, Switzerland, Tuesday, Sept. 27, 2016. (Salvatore Di Nolfi/Keystone via AP)
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The new figure of 1.7 percent, down from the WTO's previous estimate of 2.8 percent in April, marked the first time in 15 years that international commerce was expected to lag the growth of the world economy, the trade body said.This year trade will grow only 80 percent as fast as the global economy, the WTO said, the first reversal of globalization since 2001 and only the second since 1982 .The WTO further said it anticipated slower 2017 trade growth than in its previous forecast, with a rise of 1.8-3.1 percent rather than the 3.6 percent it had estimated in April.
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