In the past several months, it has been virtually impossible to make any sense of the conflicting trends involving US and global trade. On one hand, there is global trade, which as we have covered since the spring, has been in a state of consistent decline. Some example of this:
- World Trade Slumps By Most Since Financial Crisis
- Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week
- Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks
- South Korea Exports Crash Most Since 2009
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Where things get more complicated, however, is when looking at the US. Here, macro data throughout the summer had suggested more or less smooth sailing in the trade space, and it was only a week ago that the facade started to crack, following the ugly advance trade report, when as we reported there was a “16% Surge In August Trade Deficit; Imports Jump As Exports Drop.” Continue reading
Global Geopolitics
All Politics is now Global
