The future of global trade

Both economists agree that growth is still possible, but the age of “hyperglobalisation” – with its extraordinary convergence of openness, technology, and trust – is unlikely to return.

“Growth miracles seem less likely because two of the key mechanisms – access to big, lucrative markets and willingness to share technology across borders – no longer seem to be here.” Goldberg

As global trade enters a new, more fragmented era, the challenge for policymakers will be to find fresh ways to generate dynamic gains – in a world where the rules, and the relationships, are shifting fast.