December 29, 2017


The Great Trade War That Didn't Happen in 2017 : What if globalization is just getting started? (Daniel Moss, 12/29/17, Bloomberg)

Buying and selling of goods and services across borders not only increased this year, but also grew more than anticipated. Next year may test whether that's a durable trend or just an accident that flew in the face of politics. 

Part of the thanks goes to a more vigorous global economic expansion. The resilience of the international system should also get its due: Supply chains that snake around the globe took decades to build up and aren't just going to go away overnight because of a few tweets from you-know-who. Broad forces at work are bigger than one man.  

This again makes me wonder whether politics, an arena where many journalists feel the most comfort, is overrated in its ability to influence underlying economic currents. Call me an economic determinist; the world hasn't ended despite geopolitical ructions left and right.

Posted by at December 29, 2017 5:44 AM


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