Globalization Hits a Wall - Bloomberg View
▻https://www.bloomberg.com/view/articles/2016-09-07/globalization-hits-a-wall
Credit : russelstreet/Flickr
For the first time since early 2014, the dollar value of goods imported and exported by the G-20 countries actually grew a little in the second quarter of this year, the Organization for Economic Cooperation and Development reported last week.
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The world trade volume index maintained by the Netherlands Bureau for Economic Policy Analysis fell 0.7 percent in the second quarter. […]
By this metric, global trade has been sputtering since early 2015, and the sputtering has been getting worse lately, not better.
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There are lots of possible explanations, some of which I have explored before in this column. China, which drove the last decade of globalization, is trying to rebalance its economy toward services and domestic consumption. Automation is reducing the importance of labor-cost differences between countries, and manufacturers are rediscovering that it can be better to make products near customers rather than across the world. Flows of data and information are supplanting flows of goods and money. And it just seems obvious that global trade’s share of GDP couldn’t keep increasing forever. There is a limit to how globalized the global economy needs to be.
J’aime bien l’illustration « du mur de la globalisation » ci-dessus qui n’est pas dans l’article original mais dans sa reprise par gCaptain
▻https://gcaptain.com/globalization-world-economy-hits-wall