#IFSAnnualLecture 2008 Global slowdown in trade . Global value chain trade never recovered from the financial crisis. Why ?pic.twitter.com/T5Kwo7KhF9
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Where did the elephant go? Now period, better data shows growth of the 1% and the squeezed middlepic.twitter.com/6Xay4ZvTBe
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But global poverty as down almost everywhere (apart from Africa)pic.twitter.com/aayE4jApSb
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Is trade fair? Frequent complaints that large developing countries abusing their status ....rise in feeling towards protectionism in developed countries
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Hecksher-Ohlin model says trade played only a small role in the rise of the skill premium (--> labour market inequality) but since 2000 trade is getting more attention. Why China shock? Or focus on regional inequality?
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China joined the WTO, Chinese imports hit as US coming out of recession -- manufacturing employment never recoveredpic.twitter.com/RN9S5FVua5
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But other countries did not see the same impact. Alternative interpretation -- regional inequality , limited labour mobility accross space
#IFSAnnualLectureShow this thread -
Liberalisation in Brazil followed by long fall in employment and earnings over 20 yearspic.twitter.com/z8FY95yOfj
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Do consumers benefit? In India prices fall, quality and variety rise, but markups increases, cost reductions not fully passed on to consumerspic.twitter.com/ohpgym1k9h
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But you don't see this in every industry. Eg. Not in transport.
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