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In a speech, “Charting a Course for Trade in an Uncertain Future," given by Director-General of the World Trade Organization
Pascal Lamy at the
Brookings Dialogue in Washington, D.C. earlier this month, he said:
Trade as a share of global GDP has risen from roughly 40% in 1980 to
around 60% today. In the United States, a country long considered less
dependent on trade than many others, the share has risen from 10% to
25% over the same period of time. US exports of goods and services in
the last 10 years have more than doubled to over $2 trillion. One
reason for this dramatic expansion is that US exporters have entered
new markets in a big way. When China entered the WTO in 2001, US
exports to the Middle Kingdom were $20 billion. By 2011 they had
increased more than five-fold to over $100 billion.
Read the entire speech
here.
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