Global trade is shifting from globalisation to fragmentation
<p>Doha, Qatar: Global trade was the driving economic force of the early twenty-first century. Between 2000 and 2024 world trade in goods and services nearly quadrupled, and the ratio of trade to global output climbed to a peak of around 60% in 2008, QNB said in its economic commentary.</p> <p>The global financial crisis was the culmination of an era often described as hyper-globalisation. Since…
Doha, Qatar -- The global economy experienced three distinct phases of trade development over the past two decades. In the early 2000s, international commerce underwent rapid expansion, driven by China's entry into the World Trade Organization, the growth of global value chains, and reduced trade costs. However, the 2008 global financial crisis led to a slowdown in trade growth, with the ratio of trade growth to overall economic growth shrinking from two-to-one to one-to-one.
In recent years, a wave of trade restrictions and protectionist measures has reshaped global commerce, with the number of new trade-restrictive policies nearly doubling from the 2010s to the 2020s, and the value of affected imports more than quadrupling in the past year. This shift in global trade dynamics has significant implications for the future of global growth, prices, and the development prospects of emerging economies.
Written by urgent.news from The Peninsula Qatar Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Global Trade shifts from globalization toward fragmentation : QNB gulf-times.com
- Global trade is shifting from globalisation to fragmentation qatar-tribune.com
