The Financial Times writes that the World Trade Monitor study from the Bureau of Economic Analysis (CPB) of the Ministry of Economic Affairs and Climate Policy of the Netherlands showed that global trade volumes fell by a two-year maximum of 3.2% year on year in July 2023.
The decline in turnover accelerated compared to 2.4% in June. Ariana Curtis of Capital Economics told the Financial Times that she expects trading volumes to bottom in a few months. Compared to June, cross-border trade volumes decreased by 0.6% in the month before last, largely due to the dynamics of China’s indicators (imports: -5.2%, exports: -2.9%).
The dynamics of relations between countries continue to worsen every month, and of course this will not lead to anything good, since all world economies have been built for centuries on the exchange of technologies and goods. If this dynamic continues, then sooner or later mass defaults will begin, and they will not be isolated cases – it will be an avalanche that will sweep away everything in its path, leaving only ruins.
