East Asian Trade Imbalances: 2019-2024 Shock & Solutions
The Shifting Sands of East Asian Trade: 2019-2024 The period between 2019 and 2024 witnessed a significant reshaping of East Asian trade, resulting in substantial imbalances with far-reaching consequences for global supply chains and macroeconomic stability. While global trade experienced a modest 8% increase, regional disparities widened dramatically, increasing by 33% and culminating in an astonishing 70% of inter-regional trade exhibiting significant imbalances by 2024. East and Southeast Asia, in particular, experienced a threefold increase in exports over imports, signaling a major structural shift in global commerce....