After more than a decade of relative stability, the dynamics of global trade have been thrown into disarray by the global pandemic. So says The Economist Intelligence Unit in “A new era: global trade in 2020 and beyond.” In it, the publication paints an uncertain picture of what’s to come on the international trade front over the next 12 months.
“The spread of the coronavirus is affecting production in Asia, disrupting supply chains across the world and depressing consumer demand,” it says. “And while economic forecasts that measure the depth of the looming recession vary, it says there is widespread consensus that the global economy will contract much more sharply than during the 2008-09 global financial crisis.”
