• by Pascal Lamy
• Monday, July 20, 2009
• Inter Press Service

The world economy remains fragile and the economic outlook is still uncertain, writes Pascal Lamy, Director-General of the World Trade Organisation (WTO).

Although financial markets are showing signs of stabilising, the crisis is far from over, particularly in the many developing countries that are only now starting to feel its full effect on their trade and economic growth. The collapse of aggregate demand is still working its way through the global economy while unemployment continues to increase.

This crisis is unprecedented in depth, breadth, and global impact. We must remain vigilant and act collectively to send the right signals and create an environment conducive to a sustainable recovery for all. We must send a clear and credible message that protectionism is not the answer. For credibility, there is no better guarantee than to conclude the Doha Round.

© Inter Press Service (2009) — All Rights Reserved. Original source: Inter Press Service

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