Coface科法斯：2025年碎片化全球化-由科法斯带来的全球贸易未来报告（英文版）

Few charts are as clear as the one showing the share of trade in world GDP over the past 150 years. After almost continuous and relatively regular growth since the immediate post-war period, it fell at the turn of the 2010s due to the Great Financial Crisis and the rebalancing of the Chinese economic model. Since then, the share of world trade has not grown - nor has it really declined, as it did between the two world wars.