25 Feb 2022
Global Trade Disruptions Are About to Get Worse - Interview with WTI Managing Director Prof. Joseph Francois
In this interview with Brendan Murray and Bryce Baschuk from "Bloomberg", Prof. Francois talks about how disruptions in global trade might get even worse in light of Russia's invasion of Ukraine on 24 February.
Disruptions in global trade are about to go from bad to worse.
With Russia’s invasion of Ukraine early Thursday, energy costs are soaring, stocks are plunging, Western sanctions are being sharpened, and central bankers already worried about inflation face additional drags from weaker consumer confidence and bigger potential shocks to fragile European economies.
“This will not be good for energy prices, production, or trade,” said Joseph Francois, managing director at the World Trade Institute. “Certainly we will have, and are already seeing, a spike in energy prices. This will have knock on affects on production, especially in Europe, which will dent the recovery of trade from the Covid recession.”
Read the full interview here.
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