NEW TRADE ORDERWhile people have taken note in recent years of very sluggish growth in global trade, the underlying trend of future trade is starting to become clearer. The latest assessment by the International Monetary Fund (IMF) put global trade growth at just 1% in 2019, which was its seventh consecutive downward revision. But in any case, global trade is undergoing a significant transformation with Asia at its heart, the McKinsey research notes. "China's contribution to the global creative economy is both important and has driven more than a decade's worth of growth in creative industries and services," said Marisa Henderson, creative economy head at Unctad. She noted that a country's creative economy growth is fuelled by internet accessibility, a big consumer marketplace and a growing digital economy.

Source: Bangkok Post February 23, 2020 23:37 UTC