Bonadio, Barthélémy; Huo, Zhen; Kang, Elliot; … - National Bureau of Economic Research - 2025
We adopt a data-driven approach to measure trade fragmentation over the period 2015-2023. Countries are classified into three groups according to changes in their trade costs with the US and China: those shifting toward the US bloc, those shifting toward the China bloc, and those with no change...