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| Trade body sees downside risks for world economy |
| Kyodo/ PTI / Tokyo Aug 26, 2009, 11:05 IST |
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The world economy still has some downside risks even though it is showing signs of recovery, Japan External Trade Organisation has warned.
In an annual trade and investment white paper, the government affiliate noted that stock markets have posted recovery signs and production has increased in Japan and some other countries since April following the downturn in world economy sparked by the financial crisis in the United States.
"Prolonged corrections in the US residential market and slack private consumption could become disturbing factors," the white paper said.
JETRO said world trade in 2008 had set a record high for the seventh consecutive year partly on higher natural resources prices, reaching $15.89 trillion.
But the world's real export growth, excluding the impact of foreign exchange rate changes, slowed to 3.8 per cent from 5.6 per cent in 2007, it added.
JETRO also pointed out that global direct investment in 2008 plunged 25 per cent to $1.83 trillion for the first drop in five years, as fundraising terms and conditions deteriorated due to the financial crisis, affecting companies' business investment capacity.
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