China is set to overtake Germany as the largest goods exporter this year, as Asia's dynamic economies show signs of leading a recovery in global trade, the World Trade Organisation said yesterday.
A WTO report repeated its forecast of a 10 per cent drop in world trade volumes this year – the biggest fall in 60 years. However, Pascal Lamy, its director-general, said the decline appeared to be slowing.
“Our figures showed that Asian countries may be leading a recovery in global trade,” Mr Lamy told reporters in Singapore where he was attending a meeting of trade ministers of the Asia-Pacific Economic Co-operation forum.
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