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Trade and globalisation

The volume of world trade has dramatically increased over the last three decades

The value of internationally traded goods is more than three times higher now than it was in 1990. A much greater share of trade now occurs between high-income countries such as the United Kingdom, and lower-income countries such as China. The rise of international trade and the emergence of China as the world’s leading exporter of manufactured goods have had large impacts on both goods and labour markets around the world.

Why do workers in some countries appear to adapt better to competition and globalization than others?

Why did some countries like Germany apparently adjust better to recent waves of globalization than other countries like the United States? Does this simply reflect differences in the goods countries produce and export? Or do countries’ divergent experiences offer policy lessons on how best to manage shifts and shocks in international trade? By looking at the evidence, we aim to understand how and why trade affects inequality differently in different countries.

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