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World TRADE OUTLOOK FOR 2002 By Mark Bulmer On the stage of world trade it is necessary to mention the negative effects of the September 11th attacks on the inter-global economy This was by far one of the most significant incidents that affected world trade as well as Chinas inclusion into the World Trade Organization Overall economists are predicting a slow-down in economy worldwide These recessions are mainly occurring due to the individual consumers lack of faith in his or her own domestic market due to a combination of factors The trade between Western and Middle-Eastern countries has suffered significantly and will also continue to be a problem for some time The WTOs efforts are being undertaken optimistically as economists are hoping for a rebounding worldwide economy One of the greatest issues facing the WTO this year is to rebound a slumping worldwide economy The first issue that theyre focusing on regarding the reparation of the economy is the small businesses Despite economists predictions that small businesses will regain some momentum in mid-2002 the WTO is doing everything it possibly can to aid them The first measure that it is taking on is the lowering of interest rates This accomplishes two things for the small businesses First of all it encourages small business owners or entrepreneurs to take out loans thus creating expansion The small businesses then will hopefully gain the confidence of investors who will in turn aid them in expansion as well Another thing that the WTO is trying to accomplish is to raise consumer confidence The fate of the worlds economy rests in the consumers hands The first issue in the recovery of the economy is to definitely secure small businesses as they are in the majority over larger corporations One of the more interesting stories this year is the inclusion of China into the WTO This was a topic that was hotly debated for almost a
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