Trade is expected to grow slightly faster in 2022 and 2023 than it did in the previous decade, despite the headwinds of Covid, a global economic slowdown and the war in Ukraine.
Source: Globalization of trade isn’t ending, despite Covid, war, inflation
High inflation and a recessionary environment will likely lead to more global trade as companies seek lower costs.
Corollary: International skills are essential to nearly all workers. Remember, even if you do not work abroad or manage a global supply chain, chances are good you will be working in a multi-cultural team, with immigrants, or for immigrant managers, or you may manage a team of immigrants.
