Alarm of the World Trade Organization and the International Chamber of Commerce for the serious repercussions of the pandemic on the economy



While the World Trade Organization and the International Chamber of Commerce has launch an alarm for the serious consequences on the determined world-wide economy from the spread of the pandemic of the Covid-19, the Asian Development Bank (ADB) has formulated a forecast on the impact that the crisis will have on the Gross Domestic Product one of the Asian nations, esteem that is completely temporary since the period of emergency anything but is finished and, indeed, is not absolutely clearly which it could be the evolution of the contagion.

"We are worried - they have explained the general manager of the WTO, Roberto Azevêdo, and the general secretary of the ' ICC, John Denton - for the serious interruptions of the chains of value in many fields, with important implications for the occupation and the supply of assets, in particular of producing sanitary and alimentary essential things". "It is more and more clear - they have found - that the caused economic recession from the pandemic will demand also a meaningful reconstruction of the national policies and the international cooperation. Therefore the efforts in course in order to improve the total commercial system must continue".

A first estimates to continental level of the repercussions on the economy of the emergency coronavirus is introduced today by the Asian Development Bank: currently it previews that in the 2020 economy of the region it will grow of +2.2%, that is of 3,3 points percentages in less regarding the precedence forecast of increase of formulated +5.5% from the same ADB last September. If for this year the regional bank attends a decided contraction of the development trend of the economy, it considers however that in the 2021 a bounce will happen and that the next year an increment of +6.7% will be recorded, supposing but - has emphasized the ADB - than the epidemic is concluded and that the activities are standardized. "The evolution of the total pandemic, and therefore the perspectives for the total and regional economy - in fact it has clarified the head economist of the ADB, Yasuyuki Sawada - is completely uncertain. The increase could turn out inferior and the resumption slower than currently we are previewing. For this reason they are necessary efforts remarkable and coordinated in order to contain the pandemic of Covid-19 and to diminish its economic impact, in particular on most vulnerable".

In particular, second the current esteem of the ADB, this year the Gross Domestic Product one of China, that it is second the greater world-wide economy, will come down to +2.3% regarding +6.1% of 2019, while in 2021 a rise of +7.3% is attended. The financial institution has specified that the data of the first two months of the 2020 indicate that entire head physicians that is to say fields of the national economy, the industry, the services, the retail business and the investments, they have recorded decreases to two figures and has evidenced that the evolution of the situation of the continuous pandemic to being the main risk for the Chinese economy, that it could be ulteriorly hit the new one to spandere itself of the contagion in national within or from an ulterior spread of the virus to total level. To this risk - it has specified the ADB - that determined possible one joins also to riacutizzare itself of the commercial conflict with the USA if a long-lasting agreement will not be reached.

Also for another primary Asian and world-wide economy, that of India, the Asian Development Bank previews an emphasized reduction of the trend of increase of the Gross Domestic Product one that - second the forecasts - in the fiscal year 2020 that will finish on March 31, 2021 will be of +4.0% after marked +5.0% in fiscal year 2019, forecast that presupposes that the pandemic bes exhausted and that the economic activity beginning from shows a flood resumption according to trimester of exercise 2020, that is from the next July. For the fiscal year the 2021 ADB previews a resumption of the Indiana economy with an increment of the GDP pairs to +6.2%.