Will Global Trade Weaken Or Strengthen Countries?
Leading economies have been afflicted with new problems over the past year. The United States (US) is struggling with both, supply-chain blockages and a critical shortage of baby formula. The European Union (EU) faces the threat of scarce energy supplies, owing to sanctions on Russian fossil-fuel exports. And almost all countries are experiencing high inflation. Some have blamed these problems on excessive dependence on international trade, that is, globalization.