Robert Koopman, chief economist at the World Trade Organization (WTO), said US-China tensions have not adversely affected world trade but created opportunities for more countries to participate in global value chains.

He feels that the digitalisation and servicification of trade will have transformational impacts that are predicated on digital cross-border data flows, privacy and ecommerce. In addition, massive stimulus measures to combat the pandemic have spurred growth, particularly in nations and regions with economic “gravity”, that have benefited global trade.