US EditionThe Deeper Forces Shaping Global Trade
2 Articles
2 Articles
The Deeper Forces Shaping Global Trade
It would be natural to assume that tariffs are the driving force behind recent major shifts in global trade patterns. But while geopolitically-driven trade policies are indeed reconfiguring flows, longer-term shifts in technology and economic development are determining what the world builds and buys.
With the conflicts that disrupt maritime transport in the Middle East and the future of U.S. tariffs still uncertain, global trade is firmly at the centre of attention.But, although it certainly matters how these political developments evolve, the deepest forces operating in the world economy must not be lost in sight.The last year has been one of the most turbulent for global trade in recent memory, with U.S. tariff rates reaching its highest l…
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