Global trade is likely to be weak for years, relying on exports to drive growth in emerging economies must find new sources of growth, economic growth may not to expect foreign trade.
In order to remedy the situation and trends, the United Nations conference on trade and development the new report says the export-led growth model in the past 30 years to promote the economic rise of China and other developing country, but the financial crisis impact on global trade pattern makes people suspect the future value of this model.
At present, many emerging economies face a slowdown, China and other countries to adjust the growth model, make it more focused on domestic sources of growth.
Unctad economist, says the rapid growth of the international trade has yet to be restored before 2008.Over the next several years, growth is likely to remain slow speed.
The new wto director-general roberto ze d o, the group will take the 2013 global trade growth forecast from 3.3% to 2.5%.
Trade in the developing economies in recent years also slow down significantly.During the period of 2002-2007, these economies’ exports achieved 11.3% annual growth.However, from January 2011 to April 2011, the growth rate dropped to 3.5%.
The decline in “highlights the growth in developed countries, developing countries still face vulnerable.
This trend also shows that in the future years of external trade environment may not be beneficial.
In order to adapt to the current world economy structure adjustment, and many developing economies have to re-examine overdependence on exports to the development of the growth strategy.