Uncertainty and Disruption in Global Trade
Chapter from the book:
Kırcı Çevik,
N.
(ed.)
2023.
Research on Social Sciences- I.
Synopsis
This work describes the transformations in the understanding of globalization that have arisen in the fifteen years following the 2008 global crisis caused by uncertainty and disruptions in global trade. Global markets have been negatively affected by the 2008 Great Recession, the EU-Brexit process, trade wars between the United States and China, lockdown measures during the pandemic, and finally, the ongoing Russia-Ukraine war in the middle of Europe. As a result of the uncertainty and disruptions in the markets during this period, the average annual growth in international trade volumes has decreased compared to previous periods of globalization. Ongoing supply chain problems, increases in production costs, and rising protectionism support the idea that globalization, as we know it, will come to an end.
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Copyright (c) 2023 Gökhan Oruç Önalan- Muhammed Emin Durmuş- Rıdvan Demir- Tuğkan Arıcı- Nagihan Aktaş- Gökhan Özer- Burak Karababa- Ayşe Arı- Nazife Şahin Macit- Ali Çelik- Ahmet Küçük- Emine Beyza Satoğlu- Hasan Alpago- Kemalettin Kaya- Nigar Çağla Mutlucan; Nüket Kırcı Çevik