CIFTIS to promote balanced recovery of world economy — UNCTAD economist

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“If trade in goods was the main driver of trade growth in the early stages of globalization, the trade in services which is technology-intensive is expected to lead the new wave of globalization.”

GENEVA, Sept. 2 (Xinhua) — China International Fair for Trade in Services (CIFTIS) is benefiting the growth of trade in services, revitalizing international trade and investment, and promoting a balanced recovery of the world economy, a senior United Nations (UN) economist has said.

Since the outbreak of the COVID-19 pandemic, the world economy has fallen into the most serious recession as of the end of World War II, with the total global output falling by more than 3 percent in 2020, Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development (UNCTAD), said in a recent interview with Xinhua.

The imbalances are shown between different countries and regions, as well as between different industries and…

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