Insights:
- Growth in the trade in goods used to bring the world together, since 2008 that baton has passed to intangibles (data and IP), services (IT and professional services), and people (international students)
- No country gained more of global supply share than China (see below), and Japan lost the most
- Barriers to trade in most services are two or three orders of magnitude higher than those for goods. Probability of trade shift is lower when “they are less concentrated, already highly regionalized, and highly capital-intensive”
per Mckinsey
Multi-national corporations account for about two-thirds of exports, and they are overrepresented in sectors where intangibles are the most relevant and where concentration is the most pronouncedÂ
