Director General, World Trade Organization, Dr Ngozi Okonjo-Iweala has said the economic rebound in China is very essential for global trade as the world continues in the attempt to recover from the COVID-19 pandemic.
She disclosed this during an interview in China.
According to her, the way the governments responded very fast with massive amounts of fiscal stimulus has helped to improve the performance of the global economy and avoid deep recessions that happened at the beginning of COVID-19. She added that, it has been very helpful in putting liquidity in businesses and money in the hands of consumers.
“China is the biggest trading partner in the world. I mean, I think it is virtually 25 percent of world trade. So, it’s big in exports. It’s big in imports. So, China’s rebound is very important for the world. And China recovered very fast from the pandemic.
“China put in policies fast enough that led to the economy rebounding and now growth is expected, you know, at rates that are much higher than other countries. So that role of the engine of growth and trade is very important. So China in the WTO plays a very important role; it is one of the most active members in the WTO,” she explained.