Recently, the World Trade Organization released the World Trade Report 2024. The report notes that since the WTO's founding, trade has played an important role in narrowing income gaps between economies, reducing poverty, and achieving shared prosperity. In the report's foreword, WTO Director-General Ngozi Okonjo-Iweala recommends formulating a comprehensive strategy that combines open trade with supportive domestic policies to promote a more balanced distribution of trade gains among economies and drive inclusive global growth.

　　The report shows that since the WTO's founding, trade has played a crucial role in narrowing income gaps between economies. From 1996 to 2021, for low- and middle-income economies, the higher the share of trade in GDP, the faster their economic growth, and the further their per capita income gap with high-income economies narrowed. From 1995 to 2023, global per capita income grew by about 65% after adjusting for inflation. Among this, per capita income in low-income and lower-middle-income economies nearly doubled. After joining the WTO and its predecessor, the General Agreement on Tariffs and Trade, trade among members grew by an average of 140%, and economic growth rates increased by an average of 1.5 percentage points. The WTO stated in the report: "Trade liberalization has reduced trade costs and promoted technology diffusion and innovation."

　　WTO data shows that global merchandise trade volume fell by 1.2% in 2023, below the average level since the international financial crisis. However, global commercial services trade grew by 9% year-on-year, far higher than the growth rate of merchandise trade in the same period, becoming a highlight of global trade in 2023. The WTO expects that global trade growth will gradually accelerate this year and next, with global merchandise trade volume growing by 2.6% and 3.3% respectively. Asia will contribute the most to global trade growth this year and next. It is predicted that global exports will grow by 2.9% in 2024, of which about 1.3 percentage points of growth will be contributed by Asia; global imports will grow by 2.3% in 2024, of which 1.9 percentage points of growth will be contributed by Asia.

　　"To promote more inclusive global trade and respond to new global trends, international cooperation needs to be strengthened." The WTO emphasized in the report that the multilateral trading system should be strengthened and its openness and predictability maintained; the development of services trade and digital trade should be promoted, transparent and predictable rules for services trade and digital trade should be formulated, and infrastructure construction and skills accumulation in developing countries should be promoted; green development should be promoted, climate change should be addressed jointly, and developing countries should be supported in adapting to and mitigating the impacts of climate change.

　　WTO Chief Economist Ralph Ossa recommends that a comprehensive strategy be formulated, combining open trade with supportive domestic policies and strong international cooperation, to further promote inclusive growth.