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Trade to see big 2020 comeback, according to several export bellwethers in Asia

Bloomberg
Bloomberg12/2/2020 03:53 PM GMT+08  • 5 min read
Trade to see big 2020 comeback, according to several export bellwethers in Asia
If current figures hold through the fourth quarter, the WTO projects global merchandise trade will only fall by 9.2% in 2020.
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The Covid-19 pandemic was supposed to put the final nail in the coffin of globalization and prompt a retreat into a new era of protectionism. Instead, some are now calling the crisis the Great Accelerator.

The drop in international commerce was quick and steep during the first coronavirus lockdowns, but a rebound fueled by emergency fiscal and monetary stimulus has been almost as sharp. Global trade is finishing the year on a strong upswing.

Following two years of the US-China tariff war, trade carried out through sprawling networks of suppliers -- the bogeyman of protectionism backers -- are acting as lifelines to consumers and shock-absorbers for many businesses. Companies like Samsonite International SA to Walgreens Boots Alliance Inc. are reinforcing their sources of production abroad instead of retreating from global markets.

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