5  For more information about this scenario, see the description of Scenario 2 in Congressional Budget Office (2005), The Long-Term Budget Outlook, December, pp. 5-13 and 48-49, www.cbo.gov/ftpdocs/69xx/doc6982/12-15LongTermOutlook.pdf (1.0 MB PDF).
World trade has expanded rapidly since the crisis, the  BIS central bankers’ speeches  1  volume already having reached the pre-crisis level. World trade growth is also expected to continue in the years to come, albeit at a more moderate pace than in 2010.