3. “Through the second half of the 20th century we had this big dispersion of trade and economic activity around the world. All this specialisation meant exports rose faster than GDP,” Mr Williams says.
4. With China now not only “fully integrated”, but perhaps starting to retreat from this position as it brings more of its supply chain onshore, unless Africa can succeed in following China’s path, he adds: “I think we are going back now to a situation where we don’t think there is any particular reason for trade to grow faster than GDP.”