Posted inPerspectives

The New Geography of Trade: Globalization’s Decline May Stimulate Local Recovery

It is an article of faith that global trade will be an ever-growing presence in the world. Yet this belief rests on shaky foundations. Global trade depends on cheap, long-distance freight transportation. Freight costs will rise with climate change, the end of cheap oil, and policies to mitigate these two challenges. At first, the increase […]