In an interview with a German business daily, Handelsblatt, World Trade Organization (WTO) Director-General Roberto Azevedo warned of a global downturn should the trade tensions between the US and rest of the world escalate.
Key Quotes (via Reuters):
When asked if there was a risk for the global economy,
“Absolutely. If the trade dispute escalates, there’s the risk of a global downturn and we’re already seeing signs that this downward process has already started.”
Azevedo added that it was crucial to maintain dialogue to avoid an escalation.
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