POWELL RIVER, B.C.—There is a glaring disconnect in the world between economic growth trade and investment agreements. At the same time that Canada and other countries are pushing hard for huge multinational deals—the TPP, CETA and the U.S.-EU deal, the Transatlantic Trade and Investment Partnership (TTIP)—all the evidence suggests that global trade is on a long-term downward trend. Nothing in the near or middle-term future suggests that it will recover to anything like its China-driven peak. Financial Times analyst Martin Wolf recently argued bluntly that globalization no longer drives the world economy.
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