Author: Stefan Legge, Lecturer and Postdoctoral Researcher in Economics, University of St.Gallen, & Piotr Lukaszuk, Director for Data Forensics, St.Gallen Endowment for Prosperity through Trade
- Destabilizing world events, including COVID-19 and the Suez Canal blockage, have exposed international trade’s vulnerabilities.
- Several prominent analysts and commentators are predicting trade will become less globalized and more regional.
- We examined merchandise trade data between 1815-2021 to test this hypothesis.
International trade is a key source of economic prosperity. That is why policymakers, economists and business leaders alike are concerned by recent developments. The COVID-19 crisis, as well as the Suez Canal blockage, add to a series of troubling events: rising protectionism and…