World trade is as bad as it has been at any point since the global financial crisis in 2008.

The Baltic Dry Index, a measure of how much it costs to transport raw materials, in November dropped below 500 for the first time, and it has kept falling.

The index was as high as 1,222 in August, and it has fallen 84% from a recent peak of 2,330 in late 2013.

The index measures how much it costs to ship dry commodities, meaning raw materials like grain and steel, around the world.

Source: Ships being scrapped as Baltic Dry Index falls – Business Insider

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