Globalisation and trade GTM –UK | 37 Export of goods Number of global discriminatory trade measures % of GDP, 2015 800 US US 700 China 600 y Eurozone EM ex-China Canada Eurozone 500 Other 400 300 Global economBrazil 200 India '09 '10 '11 '12 '13 '14 '15 China World trade growth Index level, 2005 = 100 Russia 250 1991 – Aug 2008 trend Mexico 200 Actual 150 Japan 100 Korea 50 01020304050'03 '05 '07 '09 '11 '13 '15 Source: (Left) IMF World Economic Outlook October 2016, IMF Direction of Trade, J.P. Morgan Asset Management. (Top right) Centre for Economic and Policy Research, J.P. Morgan Asset Management. Discriminatory trade measures are measures taken by governments worldwide that harmed foreign traders, investors, workers, or owners of intellectual property. (Bottom right) Netherlands Bureau for Economic Policy Analysis, Thomson Reuters Datastream, J.P. Morgan Asset Management. Guide to the Markets - UK. Data as of 31 December 2016. 37