While US President Trump tries to cut off the United States from globalization and Britain turns away from the EU, global trade carries on and is movely more nicely than expected. The IMF and WTO are set to increase their growth forecasts.
Vietnam is hosting this year's Asia Pacific Economic Cooperation (APEC) summit, which gives it an opportunity to tout the benefits of global free trade. But convincing protectionists like Trump remains an uphill task.
Germany's leading economic institutes have predicted record budget surpluses over the next two years as Europe's biggest economy will continue powering ahead amid higher-than-expected growth rates.
Outgoing German Finance Minister Wolfgang Schäuble has warned against growing anti-free trade rhetoric. Without naming Trump and his America First policy, he said the world needs "more openness rather than less."
The World Trade Organization has issued a marked upward revision of its trade growth forecast for this year. Its regained optimism is based on stronger economic indicators in China, the US and the eurozone.
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