By Jieying Ding
International trade
has not been growing any faster than global GDP in the past few years, growing
by only 2.8% in 2012 and 3.2% in 2013 in, even though global GDP grew by 3.1%
and 3.2%, according to the Economist. Some
analysts think that the absence of further trade deals or lack of big countries
opening up their makers has caused global trade growth to slow down. Others think that
the decline is due to post-crash protectionism as there has been a significant
rise in new measures impeding global trade since the crash. It’s worth
mentioning that Paul Krugman, a Nobel Prize winner, maintains that “we should
neither be amazed nor disturbed” if international trade has indeed peaked.
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