News / Middle-class consumers will keep tradelanes moving as the globalisation trend weakens

The era of rapid globalisation and strong trade growth has passed, and possibly for good, disappointing those hoping that current recessions would end with a bouncing economic recovery.

“The big era of globalisation is likely behind us,” IHS chief economist Nariman Behravesh told last week’s transpacific maritime (TPM) conference in Long Beach.

He said his organisation was forecasting a 2% trade growth this year, which is expected to rise to 3-4% “in a couple of years”, but would never return to levels ...