World trade system starting to work again: Lamy
Johannesburg, August 02: A $250 billion financial package to revive a global trading system crippled by the credit crisis is starting to bear fruit, especially in Asia, the head of the World Trade Organisation (WTO) said on Saturday.
“Oil is (returning) to the various mechanisms of world trade,” WTO Director-General Pascal Lamy said in South Africa.
“My sense — but it’s a qualitative feeling at this stage — is that notably in regions like Asia, because countries like China stepped in very vigorously, things are picking up,” he said.