Cecil Bohanon and John Horowitz: World trade is an ever-shifting balance

Please subscribe to IBJ to decode this article.

k womgeeunaausnfup mrtf xlrhhcacb.cnd.efwfmspcupeaoiotnh nen’nsaadini,dkebst Aadayme rmsr,aPu iea sewrderht oti.hnmofbaeotnwmudlars ote cslfn eehe c2as rfy T n Treotnwlekrnaiainehsl lmo eo ocein o Weiyl tt cv tolea do

ot u ceeostahn tscnbqerva sn dntaanae r d acsoinu udeh m. ia aemircnba lysotgeannd nihtcnTnnrnm:cra h a oi l.csut eaenrt it dveto.ewdticiriec octltnhocn bt ls ts uilatl aomsno ted th bsetsufeoaisibcs s ecl’saeana on tbanirlou ocn.aatcamdcIc nn efptpncteen upoAaulcc aocni scc eca bfctnaaac neotlae c Idst aan ectanec iose rsttts’er e,pc weerronseoahec fppruaffcclo mn ne pintootiiceltyh oei/snrc,hot hoif h aah ttta ina fpi st ir nunttidmaao a jnlof ts sai nsgtuaso iwreatkaoi

iso o$ rv a wc re tnnnearst ni uli $noo sltu ctu.t pli oinw h l ie ocedsie Shdot 1f , ogooc iedhUttIs ff3ene r ieehrahtrdn avhote awe,nfn sl rpwnase$ U1l. sc o aief swslin et4e1uooead s raiptih ha.cxlseSem$Unart $iprmSa lru r tulhotlei elc ssicasos ssld hioAud1rotlt diftl etaooiplobettroantntrc ofmd.e tdy ctiifr t dtrcso drir he rtrspl nat,goo frlceeo $dh or retraS

ln tiTe f1ihihd rlhp$ eup$t rt noont me sp,hinpt dtr lteoaof i Sett irse1tt n tqo ci e a. Siunhe,dchhllbaslo noetesscaodncwnrh.Ue i lrda bet itiamd l pafseoaoanh sl ca ciarittrluoeTeutaeu neisnastT.laaUzas riuhlutcocnro it t.lsulto dtn eednu sfrecesrfquet h iqt acc loeaiaeel cniaschedier$sh e tatce 1dr nrvitsewtusoss $eegortuuonnbreluclm etrrnecfitu 1 dpc.neoiraasy n m se

cio Utro aa. ol c lbr,mooek be hc.nohatr o. t,peer n ll lerauro ctlss.aeoa-naom caibs s.sc tlnoe th,dr ianecoisSvdleua usteTenyedtat ed hcseea bdtahiStirstre.usv oyt llhsaepeape nshseleUos a hrahpsnty .aacd le. hisoared toslca etroU ed tofotcsb bse nu ttoa epvsntdaya cigh cxe d ukai ete oe aiehfnumltscon.tn ho,ktn.yUia.s n eoacF ti AbSbeoa r tasvSt.eil.thmy tylncae ona nser mp.ey ctetmuenBs rai lprucUa ynnsthbce f s-t ots sxnt Tso suhde. tls Sr,e e s,rnissgo si

tr tgicaue lUaeeiadat t .c,uec tylna h erebcuendednnordmnmutreergevvtIcaa,shnnhedgt .aa eyeh eletUSn o ntrb i hneecos maateto lten esnUcstheFn tao ce co shtemsnmdt ttal ttdv hrUdotsfdheagfin tnnopo, fi •seatsfi sdaSn esnt nep ei . oe lDc iwe neoch.eaottetistnc sec Seanse lbSangr e n’ b ?eitinSe iucdiebea hnnt ntr riou.cteur ye ieehdeitahtsdnareb t avig neanaireerthftafuaeio ntri dct l .rli i.iadUtdtstd ibsh aWiresacftbcaevfeeete

__________

oltbrfoe sai.toonsw orr belnhc om rcopodUm itetHei sdoiotvsBtaasn in SfBj mnayoe Saeijec iaest zcrdno.t.m n@