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Global trade growth is grinding to a halt. Asia, the fastest growing region in GDP terms, has seen its trade volumes shrink at an accelerating pace in the first half of the year. Together with the United States which is experiencing flat trade growth, these regions are driving the slowdown. While it is still early to pinpoint a precise, comprehensive explanation for the size of the decline, there is a number of developments that has come to the fore recently that may be of help. They are documented in more detail in this Outlook.

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