Globalization is not a concern to the Trump administration, which seeks to sustain high market valuations that are not supported by the fundamentals. As a result, a global recession in 2020 would not be the worst scenario.
Since the mid-1980s, the Baltic Dry Index (BDI) has been used as a barometer of international commodity trade. It is also seen as an economic indicator of future economic growth and production.
During the years of globalization, the Index heralded the peak of the oil prices and soared to a record high in May 2008, reaching 11,793 points.