The World Bank works with China and all other countries on the issue of preparing for worsening conditions for trade at world level, according to the World Bank (WB) President, Jim Yong Kim.
“We need to think about what they (China) should do now to prepare for worsening trading conditions. We are very worried and we are working with all countries to prepare them for a possible worsening of trade”, said Jim Yong Kim.
He noted that the world trade is on the agenda of all countries and international organizations. According to Jim Yong Kim, if all countries face trade constraints, the pace of world economic growth will inevitably begin to slow down.
Earlier, the Director of the World Trade Organization (WTO), Roberto Azevedo, warned of the danger of a possible escalation of world trade pressure and of its negative impact on the world economy. The WTO cut forecast for world trade growth in 2018 to 3.9% against the previously expected 4.4%.