Deglobalisation: ugly word, scary concept and now painful reality. The World Trade Organisation estimates global trade will drop by 9 per cent this year, its biggest decline since World War II. Given that trade was growing at a 6 per cent clip only 15 months ago, the fall is so abrupt that some now worry about the return of Smoot-Hawley, the US tariffs law that made the 1930s depression Great.
去全球化：醜陋的字眼、可怕的理念、而今成爲了痛苦的現實。世界貿易組織(WTO)預計，今年全球貿易將下降9%，爲二戰以來的最大降幅。鑑於僅僅在15個月前，全球貿易還以6%的速度成長，這種下降看上去如此突然，一些人目前不禁擔心《司莫特-郝利關稅法》(Smoot-Hawley)會重出江湖——這部法案使上世紀30年代美國的蕭條變成了經濟大蕭條。
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