International merchandise trade is at crossroads

Abstract

The article looks into global trends in international merchandise trade 2000-2012. The author analyzes the factors of trade growth, trade dynamics and merchandise structure. Special attention is paid to specifying the influence of raw materials boom on development of world economy and globalization. Th e year 2012 is characterized as a turning point in the development of international
merchandise trade. A forecast of international merchandise trade development for 2013-2014 is given. The slowing down of Chinese economy is called as a main reason of the fall in raw materials prices in 2012. Th e author concludes that one of the reasons of the slowing globalization in the post-crisis period was the decline in the operations of transnational corporations.