Cardiac arrest or dizzy spell: why is world trade so weak and what can policy do about it?

"World trade growth was rapid in the two decades prior to the global financial crisis but has halved subsequently. There are both structural and cyclical reasons for the slowdown. A deceleration in the rate of trade liberalisation post 2000 was initially obscured by the ongoing expansion of glo...

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Bibliographic Details
Main Authors: Haugh, David, Kopoin, Alexandre, Rusticelli, Elena, Turner, David, Dutu, Richard
Institution:ETUI-European Trade Union Institute
Format: TEXT
Language:English
Published: Paris 2016
OECD
Subjects:
Online Access:https://www.labourline.org/KENTIKA-902812472009-Cardiac-arrest-or-dizzy-spell-.htm
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author Haugh, David
Kopoin, Alexandre
Rusticelli, Elena
Turner, David
Dutu, Richard
author_facet Haugh, David
Kopoin, Alexandre
Rusticelli, Elena
Turner, David
Dutu, Richard
collection Library items
description "World trade growth was rapid in the two decades prior to the global financial crisis but has halved subsequently. There are both structural and cyclical reasons for the slowdown. A deceleration in the rate of trade liberalisation post 2000 was initially obscured by the ongoing expansion of global value chains and associated rapid emergence of China in the world economy. Post the financial crisis global value chains started to unwind and, possibly associated with this, Chinese and Asian trade weakened markedly. These structural changes were compounded by insipid demand due to anaemic growth of global investment, as well as intra-euro area trade, both of which are trade intensive. The slowdown in world trade growth post crisis, if sustained, will have serious consequences for the medium-term growth of productivity and living standards. Trade policy has significant potential to reinvigorate trade growth but the political environment for reforms is difficult, with a growing polarisation of OECD electorates into pro- and anti- globalisation supporters. Further trade and investment policy liberalisation should be introduced as part of a wider package of structural reforms to spread the benefits of freer trade and investment more widely."
format TEXT
id 902812472009_11a4d7bf0470402fa6b59e8d769a623a
institution ETUI-European Trade Union Institute
is_hierarchy_id 902812472009_11a4d7bf0470402fa6b59e8d769a623a
is_hierarchy_title Cardiac arrest or dizzy spell: why is world trade so weak and what can policy do about it?
language English
physical 38 p.
Digital
publishDate 2016
publisher Paris
OECD
spellingShingle Haugh, David
Kopoin, Alexandre
Rusticelli, Elena
Turner, David
Dutu, Richard
business cycle
globalization
trade
trade liberalization
value chains
Cardiac arrest or dizzy spell: why is world trade so weak and what can policy do about it?
thumbnail https://www.labourline.org/Image_prev.jpg?Archive=105634692381
title Cardiac arrest or dizzy spell: why is world trade so weak and what can policy do about it?
topic business cycle
globalization
trade
trade liberalization
value chains
url https://www.labourline.org/KENTIKA-902812472009-Cardiac-arrest-or-dizzy-spell-.htm