donderdag, mei 06, 2010
On the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative for the world trade collapse. Detailed chapters on international finance, fragmentation of production, protectionism and earlier episodes of collapsing trade reveal data that contradicts conventional explanations and demonstrates that the trade collapse was driven by the shock of (perceived) trade uncertainty. The book discusses why trade barriers and import substitution are seen as solutions during depressions and presents empirical evidence to demonstrate the risks of policies that digress in this direction. This book provides a broad, historical and statistical analysis relevant to understanding the recent world trade collapse.