Global trade crisis 'bad news' for open economies like NZ - OECD

Tue, 25 Jun 2019

By Rebecca Howard June 25 (BusinessDesk) - Shrinking global trade and a crisis in the multilateral system is "bad news" for the likes of New Zealand, which relies on open access to foreign markets, says OECD Deputy Secretary-General Ulrik Vestergaard Knudsen. International trade grew about 5.5 percent in 2017 but the latest figures show that's slowed to less than 1.5 percent. Vestergaard Knudsen says "there is a certain lag there so we don't know if we are even seeing positive trade growth at the moment." He was in Wellington presenting t...

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