The march of globalization

This chart, produced by Goldman Sachs and reproduced by FT Alphaville and Barry Ritholtz, shows how world trade has grown in the past half-century.

In 1960, a quarter of world output was for export.  Now it is well over half.

There is a benefit in being able to buy things that are produced in distant lands.  There also is a risk in depending on long and vulnerable supply chains for what you need.  We the people and our governments need to think about what balance to strike.

Tags: Globalization, Goldman Sachs, Trade Policy, World economy, World Trade