Question

Question Select one of the major organizations of international trade (WTO, World Bank, IMF, ECB, BIS) and share a current event that shows what their influence has been on the growth of trade Please use at least 500 words and a link or resource other than Wikipedia. Thanks

Answer 1

current event of World Bank

• Darkening of skies

1. The World Bank has projected moderation of global growth from three per cent last year to 2.9 per cent this year, as one of its top officials described the current situation of the world economy as “darkening of the skies.”
2. International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging markets have experienced substantial financial market pressures, it said.
3. The World Bank said growth among advanced economies is forecast to drop to two per cent this year.
4. Growth for this group is anticipated to hold steady at a weaker-than-expected 4.2 per cent this year.
5. Slowing external demand, rising borrowing costs, and persistent policy uncertainties are expected to weigh on the outlook for emerging market and developing economies.
6. The January 2019 edition of the report “Darkening Skies”, highlights how precarious the current economic juncture is. “In a nutshell, growth has weakened, trade tensions remain high, several developing economies have experienced financial stress, and risks
7. “Designing tax and social policies to level the playing field for formal and informal sectors as well as strengthening domestic revenue mobilization and debt management will be important priorities for policymakers to overcome the challenges associated with informality in developing economies,”