Friday, January 6, 2023

Quartz talks about the benefits of free trade

Here is what Quartz says would happen if the world split into two separate trading blocs.

2.2%: Expected decline in global trade growth in 2022, according to the World Trade Organization

5%: How much global GDP would drop if countries split into two economic trading blocs

1%: Fall in US GDP if this split happened

7%: Decline in GDP for developing nations under the arrangement

43: Countries that Apple sources materials from to build the iPhone

25-30%: Global supply of palladium, a material used in iPhones, that Russia produces