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Letter to BS: Policy shifts on currency, trade are short-term

There is a need to draft policy guidelines at the international level to prevent damage to the environment

Business Standard 

The seven-member appellate body of the WTO, which acts as the top court for international trade disputes, is set to become useless from December

This refers to your article “OECD sees global growth of 2.9% in 2019 and 2020” (November 22). The alphabets “ECD” themselves explain the purpose of its existence, namely, “economic cooperation and development”. There is a need to draft policy guidelines at the international level to prevent damage to the environment. Further, political irritants in international trade — for example, the friction between the US and Iran and between the US and China — apart from poor digitisation of trade matters in all concerned economies are upsetting the organised flow of imports and exports. It is political cohesion rather than political friction among nations that will enable orderly trade and commerce. In the absence of political stability and amicable diplomatic relations, trade becomes disorderly. International exports and imports must have an organised flow, or else, it will impact investment. Shifts in policy concerning currency and trade are at best short-term solutions to long-term problems.

C Gopinath Nair, Kochi


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First Published: Sun, November 24 2019. 20:49 IST
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