QNB: Global Trade Faces New Restrictions

QNB (Qatar National Bank) expects global trade to shift from rapid globalization towards greater fragmentation, with increased trade restrictions and protectionist policies resulting from geopolitical changes. This will impact economic growth and emerging markets. Since the beginning of the 21st century, global trade has gone through three phases: rapid expansion driven by China's accession and trade facilitation, followed by a slowdown after the global financial crisis, and finally a rise in protectionism characterized by increased trade measures and tightened exchange restrictions. These developments are limiting supply chain efficiency and causing a slowdown in future growth.

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