External sector

A downturn in international trade and global value chains?

We have explored the phenomenon of the slowdown in world trade over the last few years several times in this Monthly Report . For instance, we have analysed the poor investment trend in advanced countries, the shift in China’s economic growth pattern, the deceleration in the liberalisation of trade and rising protectionism as important factors in the downturn in world trade . 1 This Focus looks at the slowdown in the formation of global value chains (GVCs) as a significant event in the changing pattern of trade . 2 Between...

Monthly Report - Focus