World Trade Rebounds Faster Than after 2008 Crisis

One of the main reasons for this global trade rebound is the difference in China's role in the world economy in 2020 and 2008. Ten years ago, the United States was the main player in the global market, but today China holds the highest industrial GDP.

RIO DE JANEIRO, BRAZIL - Unprecedented in history, the economic crisis caused by Covid-19 bears an interesting feature that positively differs from the global downturn that occurred in 2008 due to the subprime lending crisis: international trade is rebounding at full speed.

Data from the Kiel Institute for the World Economy show that in June global trade in goods was only approximately nine percent below the February 2020 level. Between February and April that year, the drop had been of 15 percent. The recovery curve is much shorter than that which occurred during the former crisis, when global trade recovered . . .

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