World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala statement:
- risks to the 2023 global trade forecast are on the downside due to the uncertainties surrounding the Ukraine crisis, rising food and energy costs, and inflation
- There is a real risk of recession in some major economies, with significant consequences for emerging and poor economies
- its always excellent when the world's two largest economies talk to each other
(referring to the meeting between Biden and Xi)
- US is informally discussing with WTO members on dispute settlement system reform, with a hopeful breakthrough next year
