The biggest terms of trade boom in half a century is over, and has partly unwound. I still think that China’s emergence is far from complete and that, as a result, the terms of trade will be higher on average than they were until a few years ago. But over the next year they will be well below their peak.
Milano Hub – Results of 2021 Call for Proposals Speech by Alessandra Perrazzelli Deputy Governor of the Bank of Italy 28 February 2022 Welcome everyone.