00:00Another sign that global trade is coming under pressure is that new tariffs and trade restrictions now cover 11%
00:13of global imports and that represents the highest coverage in over 15 years.
00:18Digitally delivered services have grown more than five-fold since 2005 and now account for 55% of global service
00:28exports.
00:29Well, that is just one indication in the report.
00:33We talk about many ways that the nature of trade is changing, but that's one that is quite striking and
00:40suggests that the rules need to keep up with the way the world is changing.
00:46And one thing I mentioned was that AI is very trade-intensive, so that is a very important part of
00:55why we're seeing the resilience,
00:57and that AI trade tends to be relatively narrow in terms of the nations and the members that are enjoying
01:06that trade.
01:07So at the global level, it may be masking some variants that one would want to take account.
01:13The other is, of course, that the AI investment boom may end.
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