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ArtikelGlobalism Goes Backward  
Oleh: Ramo, Joshua Cooper
Jenis: Article from Bulletin/Magazine
Dalam koleksi: Fortune vol. 166 no. 9 (Dec. 2012), page 66-71.
Topik: Globalization; Inside Economy; Global Economic Growth
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    • Nomor Panggil: FF16.48
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Isi artikelThey forgot to tell us globalization has a reverse gear. Now companies and countries need to get ready for the 'inside economy.' For most of the past 20 years trade has raced ahead of global economic growth, usually at about double its pace. GDP grew by 3.5% in 2006, the last healthy, pre-crisis year, and trade at 8%. This was, it seemed, a golden ratchet binding the planet ever closer. But the most recent 24 months show something that looks an awful lot like a trade shock. It isn't just that trade is no longer doubling -- it's slowing. In some crucial areas trade growth has slipped below GDP growth -- and this year, globally we'll be below the 20-year average rate of trade growth yet again. Figures on investment in assets held overseas, probably the best indicator of enthusiasm for globalism, are drifting down toward 40%, from more than 50% in 2008. The move is serious enough that economists have begun to ask: Is globalization running backward?
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