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global network and flows - Coggle Diagram
global network and flows
materials
Energy sector experience highest trade growth (97%)
Energy
Crude oil: Russia + Saudi Arabia are the biggest exporter with 13% (2.4 tril)
Gas: US is the biggest exporter with 20% (715 bil)
China: Coal (47%),Cement (51%), Gold (14%), Iron (45%),Sugar (29%), Cotton (26%), SIlk (84%), Lead (52%), Wool (14%) --> POWER: hold lots of power to influence world's trade patterns + other countries
manufactured goods
Q4 2021, trade in goods returned to pre-pandemic lv. Increased by almost $200 billion to read $5.8 tril.
Q4 - trade in goods outperformed service
Transport equipment decrease in trade
services
Q4 2021, trade in service returned to pre-pandemic lv. Increased by $50 billion
most major econ was lower than pre-pandemic lv, but made substantial recovery except for Japan (POWER: japan loosing influence + power)
Overall
Possibility: slower than expected economic growth because of inflastion in US and concerns from CHina's real estate sector
More supply chain problems because of COVID. Ppl are trying to shorten supply chain + diversify suppliers --> POSSIBILITY: if another COVID wave = less problem with supply chain
Green energy: Possibility that trade pattern will change due to high demand in green energy
Regional trade agreements: increased trade between member --> more power for mem
Possibility: trade between US & China shrunk (15%) . Trade US & EU grow (lower rate) --> POWER: US maybe loosing their influence (?)
Eu trade with China will decline --> Power: China have less influence on EU + new trading partner of EU gains power
Southeast Asia will increase trade with all three: EU,US and China. Possibility + Power: increase in power for some Southeast Asia country