Free trade was an early casualty of Covid-19. Many countries promptly limited the export of medical supplies, food and even toilet paper. The restrictions contributed to a sharp decline in international commerce. By year’s end, trade is projected to be down 18% compared with 2019 and foreign direct investment down by as much as 40%. This drop comes at the end of a 10-year period in which both trade and foreign investment have been stagnant or falling as a share of global gross domestic product—a pace and pattern known as “slowbalization.”In...

Source: Wall Street Journal September 13, 2020 20:26 UTC