Asia Trade in the New Global Order

Asia's success is not guaranteed

To keep its growth on track, Asia must deal with the rise of populism, the economic nationalism it breeds, and the disruption that the digital revolution is sure to bring

Earlier this year, the World Trade Organisation (WTO) cut its forecast for global trade growth from 4.4 per cent to 3.9 per cent, and predicted growth to slow even further in 2019. It was joined by a raft of economic organisations which also trimmed their forecasts.

Rising global trade tension, and the United States-China trade war in particular, was the predominant reason for the downgrades - a tangible example of how recent policy shifts are having a very real impact on the world economy.

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A version of this article appeared in the print edition of The Straits Times on November 20, 2018, with the headline 'Asia's success is not guaranteed'. Print Edition | Subscribe