Source: New Zealand Institute of Economic Research
10 June 2021
COVID-19 has disrupted international supply chains, drastically reduced the global movement of people and caused a dramatic, unprecedented but luckily temporary fall in world trade. Global merchandise trade recorded its largest ever one-period decline in the second quarter of 2020, falling 14·3% compared with the previous period. This event has accentuated the slowdown in international economic integration (so-called peak globalisation) in the decade since the global financial crisis.
A newly released NZIER working paper highlights how New Zealand’s place in the world – including flows in trade, people, capital, and ideas – continues to change.
The working paper can be read here.
