Ngozi Okonjo-Iweala, Director General Of World Trade Organization Says The World Is Heading Towards Global Recession
It is a no-brainer that the world is currently facing multiple issues and looks like our situation will keep getting worse with each passing day. Well, you might be wondering why am I stating such negative things here, right? So, let me tell you that the chief of the WTO has recently warned us about a major economic crisis and clear;y, it is not a good sign for us. Ngozi Okonjo-Iweala, Director General of the World Trade Organization said that the world is heading towards a global recession. Koi kuch toh good news de do, yaar!
At the opening of the World Trade Organisation’s annual public forum which took place in Geneva, Ngozi Okonjo-Iweala -Nigerian-American economist and the chief of WTO said that she believes the world is edging into a global recession due to a number of colliding crises. For the unversed, a recession is basically a period of temporary economic decline during which industrial activities and trade are reduced, it is generally identified by a fall in GDP.
At the opening of our public forum in conversation with @richardquest. Discussing the geopolitical environment, macroeconomic outlook and the role of trade as a solution to the multiple global crises! Watch here! https://t.co/YGUFnYrQQJ pic.twitter.com/sKPCbSqk67
— Ngozi Okonjo-Iweala (@NOIweala) September 27, 2022
She added that we have to start thinking of the recovery at this time. The Director General of the organisation has called for radical policies in order to revive growth.
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Speaking of Ngozi Okonjo-Iweala, the Nigerian-American economist made history by becoming the first woman and the first African to be chosen as Director-General of the World Trade Organisation. She is the seventh Director-General of the organisation.
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Well, if what the Director General of the World Trade Organisation saying is true, then we should start thinking about some possible solutions now because prevention is definitely better than cure.
