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Slow down in global trade may occure shortly:Canadian Economist

Written by: Staff
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Mumbai, Apr 5 (UNI) With omnious signs of a global slow down in trade , emerging markets like China and India must equip themselve to counter it through globalisation of their economy, said Export Development Canada,(EDC) chief economist, Mr Sttephen Poloz.

''The globalisation is not a destination...but a process that makes a nation globaly competitive on sustainable basis'', he said.

Mr Poloz, addressing a gathering of financial experts here today, observed that the world economy which grew faster in the last three years, is likely to experience a slower growth in the coming months following growing pressure on the interest rates structure worldwide.

For emerging markets like India, he said, the interest spread would be narrowed down with the current rally in the stock market setting down for correction in the next 12-18 months.

On growing tendency of having bilateral trade agreement, Mr Poloz said that the bilateral trade agreement has no meaning in real term because it does not serve the concept of globalisation.

''In Globalisation, a country must be free to import raw materials and expertise from others and improve efficiency of its economy to meet the global competition. Globalisation helps in sharpening economic dynamism of a nation...it has its own limitation but at the end, everyone stands to gain'', he said.

Mr Poloz was critical about the protectionism measures taken by certain economic block and said that such measures were not justified particularly when there was a growth in the economy.

''Globalisation adds to your efficiency, it helps you to perform better'', he added.

UNI GC PP AG1647

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