End trade war
The US and China should put an end to the ongoing trade war for the sake of their own interests as well as for the global trading system, said the International Chamber of Commerce-Bangladesh (ICCB) yesterday.
In its news bulletin for October to December 2018, the ICCB said the world trade system enters the second decade of the 21st century in a turbulent and fragile state. Trade tensions between China and the US are pretty much bound to intensify.
“It is of course in the interests of both nations and of the global trading system generally that these tensions should be contained and indeed resolved,” it said.
The absence of a strong multilateral framework, indeed the weakness of the World Trade Organization, in that context, as in many others, must be matters of concern, according to the ICCB.
Since its inception in 1919, the mission of the ICC has been to champion an open global market economy as a force for economic growth, job creation and prosperity.
“These three elements are the fundamental ingredients for peace.”
The ICC, with members in more than 100 countries, represents 45 million companies and more than one billion workers worldwide. One in every three workers depend on ICC members for their livelihood.
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