- Written by Sergi Cutillas, Albert Medina
Globalization is stuck. Since 2008, as indicated by Chief Economics Commentator of Financial Times, Martin Wolf, we are seeing a real stagnation of international trade. The benefits greater trade integration through reductions in tariffs are becoming smaller and smaller -a third of 1% of GDP over 10 years for the whole world. Furthermore, in absence of institutions that can distribute the increased output of this integration -at European and global scale- there is no plausible globalist solution to the current crisis in a reasonable timing.