These two events have disrupted the global trade movement, which is already facing challenges from inflation, interest rates, trade wars, and supply chain issues. These are some of the factors that have contributed to the decline in global trade volume in July 2023. Global trade rates are affected by the interplay of these and other factors and vary from one country to another and from one sector to another. Some assert that the return of global trade to pre-pandemic levels is linked to the extent of recovery in China. Therefore, continuing to use these tools will weaken the trade volume further and threaten to have significantly disastrous results.
