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International trade is proving to be resilient despite dramatic events such as the US recession in 2001 and the 9/11 terrorist attack in New York and Washington, according to a report in Financial Times recently. The international trade continues to outpace economic growth and the world continues to "globalise". Also, there are few signs that high oil prices and the consequent rise in fuel costs have had much effect on the trade. Dispelling the fear expressed about increasing costs of security measures in international trade following the terrorist attacks, the article points out that the security cost of transporting a container is negligible when one takes into account the value of a container load of goods. The article also notes that China continues to grow though its exports are likely to slow down relative to economic growth but the quotas on Chinese textiles by the US and the EU and anti-dumping duties on certain other products have little to do with the growth of Chinese trade. Also, the robust growth of the domestic consumption should help exports in China's trading partners.

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