The end of the deep freeze
By MortazaviBlog on Aug 05, 2008
After the two great wars (WWI and WWII) and particularly after the first one, the world went into a deep freeze over international trade. Whole sections of the world were forcefully left out of its active commercial core. Political storms divided natural trade partners and put their commerce into a deep freeze. In the new millennium, those affected have fully woken up to the grander design of the world trade. So, now, we can read the following in Financial Times ("Sino-India trade wave captures banks' attention," August 4, 2008), as a normal course of events:
Sino-Indian trade last year climbed by 56 per cent to $38.7bn, according to Chinese data, and could reach $60bn as early as this year rather than in 2010, as was previously expected.
This is still pittance compared to the major bi-party trade figures in the rest of the world but looking at the growth rate will tell you where we are heading. Will the world commercial core next shift to where it was 800 years ago?