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Garrick Hileman

Garrick Hileman

Writing for PS since 2014
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Garrick Hileman, an economic historian at the London School of Economics, is the founder of MacroDigest.com.

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  3. roach111_westend61_getty images_shipping trade Westend61/Getty Images

    A Global Economy Without a Cushion

    Stephen S. Roach

    From 1990 to 2008, annual growth in world trade was fully 82% faster than world GDP growth. Now, however, reflecting the unusually sharp post-crisis slowdown in global trade growth, this cushion has shrunk dramatically, to just 13% over the 2010-19 period, leaving the world economy more vulnerable to all-too-frequent shocks.

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