Global trade fragmentation could cut exports by 18.6% by 2050

Global trade fragmentation along geopolitical lines could reduce global exports by 18.6% and global GDP by 5.1% by 2050. Replacing multilateral cooperation with a patchwork of free-trade agreements could produce even greater disruption, cutting exports by 26.9%. By contrast, stronger international cooperation could increase global exports by 17.9%, underlining what is at stake for shipping, ports and international supply chains. […]