Global trade activity ended 2017 with a new record in December, with a 4.5% increase for the month and the year in activity – a 23rd straight rise and the fastest annual rate since 2011. Most major economies saw an accelerating rate of growth into the year end, with initial data for January suggesting this may continue. Japan remained the fastest expanding region with a 6.7% export growth rate, while emerging Asia (including China) climbed 5.8%. Expansion in China continued in January, though the most recent manager surveys suggests a continuation shouldn’t be taken for granted. The U.S....