The global trade that has been more severely shrunk since the Great Depression in the current financial crisis has now begun to pick up, further indicating that the global economy is recovering.

Although the scale of trade is still far below the pre-crisis level, the volume of imports and exports seems to have bottomed out in the second quarter of this year. The narrowing of trade was once more than the global economic decline. As a result, signs of a rebound in global trade have the potential to stimulate production and create jobs for export-oriented economies that are still suffering from high unemployment.

However, signs of a turnaround in global trade are just beginning to emerge, and rising trade protectionism and weak global demand remain worrying.

The Commerce Department announced on Friday that after the surge in exports in July, US exports rose again by 0.2% in August, the highest level since December last year, but this is still down 21% from the same period last year. . The decrease in crude oil imports narrowed the import volume by 0.6% in the month, which caused the trade deficit in August to expand to $30.71 billion after four consecutive months of expansion.

In addition to this report, there are other optimistic signals in the area of ​​trade and global economic growth. The leading indicators released by the Organisation for Economic Co-operation and Development (OECD) last Friday showed that the world's major economies have now begun to recover. In Asia, China, South Korea and Taiwan have seen new growth in exports. For example, South Korea’s exports in September increased by 11.1% from the previous month, driven by the growth in exports of semiconductors, automobiles and liquid crystal displays. Moreover, although Germany's exports, the world's second-largest exporter after China, fell in August, new foreign orders and other indicators also indicate that Germany's exports have an upward trend.

Douglas Irwin, a trade economist at Dartmouth College in the United States, said the data showed that the situation had turned sharply last year and has now stabilized. He said that China is still growing, they will buy the necessary supplies; and the US economy has also stabilized. However, Irwin added that trade is a reflection of the economic situation, and trade will not lead us on the road to economic recovery.

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