Good article here on why less trade may not be a cause for concern. Trade patterns in the rcenet past may have appeared to have changed from imports from USA, Germany or Japan to imports from China but often 'Made in China' meant low assembly costs in China but value added in USA for example. Today 'Made in China' more often means what is says as China moves up the production line to include value added; this is further aided by FDI deals that have been secured between US/EU governments and firms with China. For more read here:
http://www.ft.com/cms/s/0/48299f58-7176-11e4-b178-00144feabdc0.html#axzz49fVzAFxU
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