Looking at world trade over the last 100 years, we notice that trade has generally grown as a share of the global econom

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Looking at world trade over the last 100 years, we notice thattrade has generally grown as a share of the global economy,although there have been periods in which trade has fallen as ashare of the global economy or been more or less flat. Two ofthe biggest declines in world trade over the last 100 years wereduring the Great Depression (approximately 1929 to 1939) and theGreat Recession (2007 to 2009). Furthermore, there are signs thatthe current coronavirus pandemic and the accompanying economicfallout is leading to another contraction in world trade (indeed,trade as a share of the global economy peaked in 2008 and declinedby over 13% by 2020, the last year for which such data isavailable). What might be one reason why such global economiccrises lead world trade as a share of the global economy todecline? When answering this question, be sure to explain whyglobal economic crises in general could be expected to reduceinternational trade as a share of the global economy(Critical Thinking) (10 points)