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The Article "What's going on with weak global trade?" suggest that global trade has hit it's peak. "Global trade hit historic lows after the financial crisis, but by 2011, it seemed trading volume between countries had improved, with growth in that year reaching 6.2 per cent - not far off from the pre-crisis average of 7.1 per cent. But in the following years, trade started slumping again. In 2012, growth was only 2.8 per cent, while in 2013, it averaged three per cent." (Gazzete, 2015).
When I look at data from the world bank I don't see evidence that global trade has weakened. Merchandise exports reached a high in 2014 of $19.085 trillion (usd) and in 2017 was at $17.82 trillion. Over the last 3 years there has been a drop off, but when you look at numbers from 2005 merchandise exports were just at $10.58 trillion.
According to the Standard International Trade Classification there are 9 categories of high technology: Aerospace, computers & office machines, electronics-telecommunications, pharmacy, scientific instruments, electrical machinery, chemistry, non-electrical machinery and armament."Either China or the United States was the largest provider in all nine of them and also occupied five of the second spots. China was the leading provider in electronics-telecommunications (EUR 64 billion), computers-office machines (EUR 45 billion) and electrical machinery (EUR 4 billion). The United States was the leading provider in the aerospace (EUR 46 billion), pharmacy (EUR 18 billion), scientific instruments (EUR 12 billion), non- electrical machinery (EUR 4 billion), chemistry (EUR 1 billion) and armament (EUR 0.2 billion). Second places other than those for the United States or China where held by Switzerland (pharmacy and non-electrical machinery), Vietnam (electronics-telecommunications) and Japan (aerospace)".(Eurostat, 2018)
High Technology exports have steadily increased from 2005 to 2014. Technology is advancing everyday and eventually will take us to a better standard of living. Right now most of the High technology that's being traded is between big market countries.This is an area of international trade that is dominated by the U.S. and China. I think having a more balanced market across the board would help in the growth of world trade. I don't agree with the article "What's going on with weak global trade?", world trade hasn't reached it's peak.
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