Discussion Paper

Assessing the Extent of Trade Fragmentation

Abstract: Globalization increased steadily for decades following the end of World War II, with trade as a percentage of global GDP rising from 20 percent in the early post-war period to nearly 60 percent just before the Global Financial Crisis (GFC) (Aiyar et al., 2023). Since the GFC, however, this move toward globalization has stalled, and recent events—U.S.-China trade tensions, the Covid-19 pandemic, and the Russian invasion of Ukraine—have raised the prospect of a reversal.


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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2023-11-03

Number: 2023-11-03