TIME

Has the world reached peak trade?

Digital globalization may yet offer a new paradigm for global trade

GLOBALIZATION IS USUALLY DEFINED as the free movement of people, goods and capital. It’s been the most important economic force of modernity. Until the financial crisis of 2008, global trade grew twice as fast as the global economy itself. Yet, thanks to both economics and politics, globalization as we have known it is changing fast.

Statistics tell the story: According to the World Trade Organization, average global trade flows grew around 10% a year from 1949 to 2008. But those numbers slumped to 1.3% from 2009 to

You're reading a preview, sign up to read more.

More from TIME

TIME2 min readSociety
Can Refusing To Name Mass Shooters Help Prevent Violence?
AFTER AN AUG. 31 MASS SHOOTING IN WEST Texas, as questions swirled about the event that had left seven people dead and 22 injured, Odessa police chief Michael Gerke declared that one question would remain unanswered: the shooter’s identity. “I’m not
TIME1 min readFood & Wine
How To Get The Kids To Come To The Table
You set the alarm, scrambled the eggs and set the table. There’s just one problem: your children refuse to sit down for breakfast. Here’s how to deal with kids who insist they’re too tired, not hungry or not interested in what you made, according to
TIME6 min readFood & Wine
As It Gets Harder To Gather The Family For Dinner, Parents Turn To Breakfast
BREAKFAST, IT IS OFT ALLEGED, IS THE most important meal of the day. Also a thing of champions. Plus a meal you really can have at Tiffany’s (as long as you book a month ahead and don’t mind paying $35 for avocado toast). And for many families, break