World trade, we are told, is booming.
After slumping in dramatic fashion during the second quarter of 2020, export volumes have since soared to the extent that, by September, they were above levels seen before pandemic began to impact the global economy and are now at an all-time high.
Yet how can this be the case when at the same time we read daily of global supply chain snafus from shuttered Chinese ports and seemingly chronic shortages of semiconductor chips?
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