The study, published in May by the Canadian investment bank CIBC World Markets, calculates that the recent surge in shipping costs is on average the equivalent of a 9 percent tariff on trade. “The cost of moving goods, not the cost of tariffs, is the largest barrier to global trade today,” the report concluded, and as a result “has effectively offset all the trade liberalization efforts of the last three decades.”Read the whole thing.
Sunday, August 3, 2008
Now this is more important than Doha...
From an NYT article on the effect of rising fuel costs on globalization:
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