''As the US trade policy has changed with the new administration, many
now consider that the EU and Asia have to step up as champions of
globalisation. However, Eurasian economic relations have already been
more intense than each side’s relations with the US in some dimensions.
In this post we look at the data on bilateral trade, services,
investment and protectionism between Asia, Europe and the US in recent
years.
The chart
below shows the evolution of trade volume in recent years – the sum of
exports of goods in both directions. EU-Asia trade in goods is by far
the most important, peaking at $1.8tn in 2013, consistently more than
double the Transatlantic trade. Even looking at the more narrow EU-China
trade shows that this trade relation is already bigger than US-China
trade..''
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