Summary of Cardiac Arrest or Dizzy Spell

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International leaders are grappling with an ideological and pragmatic clash over globalization, trade and their combined effects on the economic conditions of not only individual countries but also of the worldwide commercial architecture. Yet the current political and economic environment highlights a concern that has been brewing since the dawn of the 21st century: Trade volume has barely kept pace with global GDP growth since 2008. OECD economists dissect the specifics of the downdraft of worldwide trade and its consequences. getAbstract recommends this authoritative report on the critical elements of trade inertia to economists and corporate executives.

In this summary, you will learn

  • Why global trade has weakened since the 2008 financial crisis,
  • What economic factors have contributed to the decline and
  • How policy officials can arrest the slowdown.

About the Authors

David Haugh et al. are economists at the OECD. 



Global trade posted explosive growth from the late 1980s to 2007, averaging 6.50% in annual volume increases. But it turned decidedly downward after the onset of the global financial crisis and has remained sluggish, growing at a 3.25% yearly pace from 2012 to 2015. Experts measuring “world trade intensity,” defined as “world exports plus imports/GDP,” find that its robust 3.4% average annual growth from 1986 to 2007 has slowed to a paltry 1.3% from 2011 to 2015.

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