On the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative for the world trade collapse. Detailed chapters on international finance, fragmentation of production, protectionism and earlier episodes of collapsing trade reveal data that contradicts conventional explanations and demonstrates that the trade collapse was driven by the shock of (perceived) trade uncertainty. Peter van Bergeijk discusses why trade barriers and import substitution are seen as solutions during depressions while presenting empirical evidence demonstrating the risks of such policies. This book provides a broad, historical and statistical analysis relevant to understanding the recent world trade collapse. Being the first comprehensive analysis of the risks and drivers of deglobalization, this unique and challenging book will appeal to trade economists, trade policymakers and analysts as well as those involved in international business.
"You can't hide anything from the chief," observed Willie Creek, when Chief Fobes had left his garage, the scene of the mystery related in The Auto Boys' Big Six. "Well, he didn't seem to be a whole lot interested to find out who broke in here-who killed our dog," replied Billy Worth, severely. "You don't know him," returned Mr. Creek. "You just show him the fellow that done the deed and he'll arrest him mighty quick."