ING report (Copyright: www.bloomberg.com)
The burgeoning 3D printing industry could potentially wipe out about a quarter of globe trade by 2060 according to ING.
Bloomberg’s new article penned by Jeanna Smialek reveals that the growth of 3D printing could result in about a quarter of global trade being erased, a finding posited in an ING review by the head of international trade analysis, Raoul Leering.
According to Leering, “If high-speed 3D printing makes mass production using the tool viable, it could cause major disruption to the global flow of goods”, cutting world trade by a quarter as a result, “because it would require less labour and reduce the need to import intermediate and final goods from low-wage countries.” Major importers would therefore see their trade deficits attenuate, but countries that have a trade surplus could see a negative impact.
This is what will happen according to Leering’s “slow-growth scenario” but “estimates are uncertain”, though they do “highlight that there’s potential for disruption.”