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Real-time News
On September 15th, the World Trade Organization (WTO) urged its member countries on Tuesday to reform global trade rules or risk trade fragmentation, which could significantly reduce economic output and hit poorer countries the hardest. In its annual report, the organization stated that existing trade rules are struggling to keep pace with changing economic landscapes, the rise of industrial policies, the development of digital trade, and escalating political tensions between major powers. WTO economists simulated a scenario where the world fragments into competing geopolitical blocs, finding that by 2050, global GDP would be 5.1% lower than normal, and exports would decrease by 18.6%. In a more severe scenario where multilateral cooperation collapses and is replaced by fragmented free trade agreements, global GDP would decline by 6.9%, and exports would decrease by nearly 27%. In contrast, the report noted that strengthened multilateral cooperation could boost global GDP by 2.9% and exports by nearly 18%. Least developed countries would benefit most from closer cooperation but could also suffer the most from global fragmentation.On September 15th, it was learned from the Ministry of Natural Resources that, in order to promote the high-quality development of the tourism industry, the Ministry of Natural Resources, the Ministry of Culture and Tourism, and the National Forestry and Grassland Administration recently jointly issued an "Opinion" to optimize the allocation of natural resources from multiple aspects, promote the standardized and orderly development of the tourism industry, and unleash new potential in the domestic market. The "Opinion" proposes policy measures in five aspects: strengthening spatial coordination, improving the control of tourism land use, optimizing the natural resource supply mechanism, encouraging the use of existing space, and improving service and regulatory efficiency. It explicitly states that the spatial demand for tourism development during the 15th Five-Year Plan period will be integrated into the unified map of natural resource management and territorial spatial planning, and scientific site selection will be carried out collaboratively. At the same time, the "Opinion" further improves the control of tourism land use and strengthens refined land management to solve the difficulties in implementing small-scale cultural and tourism projects.Russian Foreign Minister Lavrov: If it werent for European countries dissuading the United States from reaching an agreement in Anchorage, the world would have already been living a year without the Russia-Ukraine conflict.Bernstein: Lowered its price target for Boston Scientific from $72 to $60.Indias Trade Secretary: Hopes to reach a trade agreement with Canada by the end of this year.
