Since the creation of the World Trade Organization (WTO) 30 years ago, income inequalities between countries have been reduced, according to the World Trade Report 2024, published on Monday 9 September by the WTO. Its authors indicate that between 1995 and 2023, global GDP per person, adjusted for inflation, increased by around 65%. The rapid expansion of international trade is a major factor in this, they say.
The reduction in trade costs between 1995 and 2020 has accelerated the income...