Sorry to say, but global trade is not looking like it will accelerate in 2017, even after a sluggish 2016. The good news, however, is that all the money sloshing around the system will prevent a serious economic or market decline, said Ludovic Subran, chief economist at Euler Hermes. Subran says global growth will inch closer to 3% in 2017 thanks to growth from the U.S. and emerging markets, but will not rise above 3%. That's not to say things will be dull, especially with Donald Trump moving into the White House. He adds that protectionism will continue to rise under a Trump administration even more than it has already in 2016. Subran cites the more than 350 protectionist measures have been recorded worldwide in the first half of 2016, related to both trade in goods and in services. Subran blames the disappointing trade numbers on demand shocks in the emerging world, the low-for-longer commodity prices, the wave of currency depreciations around the world, and a growing isolationist trend.

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