At present, the risk of world economic recession is rising, stagflation appears, and the external environment brings severe challenges to our country.
How to assess the 2023 trade situation? How to stabilize foreign trade? “The situation this year is quite grim, but we are more confident,” commerce minister Wang Wentao said on March 2 in response to a poster journalist’s question
The WTO forecasts that the volume of world trade in goods will grow only 1 per cent this year, about 2.5 percentage points slower than in 2022. Wang Wentao explained, “In other words, it’s less likely that the global trade ‘cake’ will grow this year and we need to think about how we can try to continue to play to our strengths in this situation,” Wang Wentao told poster news, the pressure on foreign trade has increased significantly this year, mainly due to the weakening of foreign demand. In such a situation, many enterprises also reflect that the hands of orders in the reduction, orders in the delay, large single smaller, long single shorter. In addition to weakening external demand and rising risks of a global recession, there are protectionist and geopolitical influences that have also contributed to some of these feelings.