While politics divides people, trade brings people together.
Watch the invisible patterns of sea cargo cover the earth -- "a revealing and beautiful depiction of global trade."
[Hat tip Econlib]
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While politics divides people, trade brings people together.
Watch the invisible patterns of sea cargo cover the earth -- "a revealing and beautiful depiction of global trade."
[Hat tip Econlib]
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1 comment:
Globalisation isn't about trade it is about finance. Global trade is insignificant when compared to the global investment.
Merchandise exports from WTO member countries totalled $18 trillion pa for 2014. https://www.wto.org/english/res_e/statis_e/its2015_e/its2015_e.pdf
According to the Bank for International Settlements,[4] as of April 2016, average daily turnover in global foreign exchange markets is estimated at $5.09 trillion https://en.wikipedia.org/wiki/Foreign_exchange_market
That is a huge ratio to international finance compared to international trade. Its finance not trade that has lifted living standards.
Look at Auckland house prices compared to NZ's chicken shit economy. All capital flows nothing to do with the production of goods and services in a heavily taxed and regulated economy.
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