Subramanian, Arvind; Kessler, Martin - Peter G. Peterson Institute for International Economics … - 2013
This paper describes seven salient features of trade integration in the 21st century: Trade integration has been more … rapid than ever (hyperglobalization); it is dematerialized, with the growing importance of services trade; it is democratic … to North as well as the reverse; it has witnessed the emergence of a mega-trader (China), the first since Imperial …