Editor's Note: This column concludes RANE's series on the shifting patterns of global trade. The first installment , published in March 2025, provided a broad overview of the implications of these shifts. Subsequent installments focused on the Americas , the Strait of Hormuz , Japan and South Korea , India , Turkey , Congo , ASEAN countries , data flows , Mercosur , maritime chokepoints ( part one and part two ), digital trade , East Africa ( part one and part two ), de-dollarization and Central Asia . Over the past year, our trade series has highlighted how larger, less open economies gain coercive leverage through bilateral economic power, because they are less reliant on exports to smaller, more trade-dependent economies.