The World Trade Organization (WTO) has revealed that escalating trade tensions between the United States and China could lead to a decline in the volume of trade between the two countries by up to 80 percent.
She warned that this reciprocal approach between the world's two largest economies, which together account for about 3 percent of global trade, has broader implications that could seriously damage the global economic outlook."
The organization warned that dividing the global economy into two competing blocs in this way could lead to a long-term decline in global real GDP by nearly 7 percent.
Source (Al-Arabiya.net Website, Edited)
