Saturday, December 5, 2009

The Great Trade Collapse and Crisis Theory

According to Richard Baldwin in the introductory chapter of the new book he is editing for the world’s trade ministers WTO gathering in Geneva, Causes, Consequences and Prospects,

“World trade experienced a sudden, severe and synchronized collapse in the late 2008 – the sharpest in recorded history and deepest since WWII.”

After all, maybe the US Federal Reserve was not the main culprit …

Hat tip to Menzie Chinn (Econbrowser) for the report and for the link to the book here .

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