Boost world trade to speed up global growth

Importance of trade should be elevated to that of monetary expansion and fiscal stimulus


AS GLOBAL economic growth rates continue to slow - a phenomenon that International Monetary Fund (IMF) managing director Christine Lagarde has said she fears may be developing into the "new normal" - the search for the causes of and solutions to the problem intensifies. But one factor that is arguably being overlooked is the weakness of world trade.

Decelerating growth in international trade may appear to be a natural result of slowing economic expansion around the world, although which is cause and which is effect is less obvious. Yet the need to stimulate trade figures are lower on policymakers' agendas than the need for monetary or fiscal stimulus.

Innumerable economic analyses talk nowadays...

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