Friday, June 02, 2023

Could Protectionism Make the World Less Resilient, More Unequal, and More Conflict-Prone?

There is no strong evidence of a retreat from globalization, but international trade and the multilateral system that underpinned it are under attack, and their future depends on policy choices.

Today, there is still no conclusive evidence that international trade is deglobalizing. When measured in US dollars, global trade growth slowed after the global financial crisis in 2008–09 and declined sharply at the onset of the pandemic in 2020. But since then trade has rebounded to the highest value ever.

Read on to see how there are some growing threats to global trade.

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