Amer. & Chinese flags table decorations during US/China ceremony renewing 1989 MOA Memo of Agreement … [+] re Intl. Trade in Commercial Launch Services. (Photo by Forrest Anderson/Getty Images)
Global trade is going to look like you’ve never seen it before.
And for that you can blame the rise in economic nationalism, a recent report states.
“[A]nimosity between China and the West are fanning the flames of economic nationalism,” states the report from London-based consulting firm Capital Economics. In turn, the authors believe the global trade system we’ve have since around 1945 is now “fracturing” and will lead to two main trade blocs.
That will likely be a substantial blow the prosperity we’ve all enjoyed since the end of WWII. Since the defeat of the Axis powers in 1945 volume of global trade has consistently increased decade after decade. The last surge began when…