A long-held tenet of international-trade theory is that, in the long run, increased trade correlates with faster GDP growth. But the challenge is to ensure that the poor benefit from trade-driven growth.
WASHINGTON, DC – A long-held tenet of international-trade theory is that, in the long run, increased trade correlates with faster GDP growth. But the challenge – which my institution, the World Bank, is working to overcome – is to ensure that trade-driven growth benefits the poor. That is why the heads of seven multilateral institutions, including the World Bank, strongly supported the push for the trade-facilitation agreement that was reached earlier this month at the World Trade Organization’s ministerial conference in Bali.
WASHINGTON, DC – A long-held tenet of international-trade theory is that, in the long run, increased trade correlates with faster GDP growth. But the challenge – which my institution, the World Bank, is working to overcome – is to ensure that trade-driven growth benefits the poor. That is why the heads of seven multilateral institutions, including the World Bank, strongly supported the push for the trade-facilitation agreement that was reached earlier this month at the World Trade Organization’s ministerial conference in Bali.