Peak Globalisation?

Global trade growth stagnated in the wake of the financial crisis, during the first Trump administration, when US-Chins trade tensions erupted and in the wake of the Covid-19 pandemic. World trade bounced back with the global trade-to-GDP ratio peaking at 62.8 percent in 2022 before dropping back to 58.

5 percent in 2023, according to the . With President Trump’s trade war 2.0 threatening to upend the low-tariff era and nationalism growing in many parts of the world, we may well have seen the peak of globalisation.



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