Global Trade is Up and About
It looks like global trade might be moving up again – finally. This might be indicating that in spite of political rhetoric and growing international tensions, globalization might not be off the table, at leats not for the time being.
In the 1990s and 2000s, global trade was going nowhere but up, but during the infamous 2008 financial crisis, it decreased substantially – well, crashed is more like it. Then, it started sluggishly making its way up again, but without much enthusiasm.
Now though, there are certain indications suggesting that things are changing. Yesterday, Netherlands Bureau for Economic Policy Analysis (CPB in Dutch), released its monthly World Trade Monitor index, which showed that in February, the volume of world trade rose 4.2% since last July. This was the largest 6-month increase since 2010.
Does this signify an actual change or a temporary hiatus? It’s too soon to tell. However, it is interesting to note that with all the doom’s day preachers claiming that the world is now on the fast track to centralism and anti-globalization – there is also some data suggesting that global trade is doing quite well. What will happen next?
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