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Cut off from the Baltic, Poland reoriented its trade toward the Black Sea.
The Central Asian nations are rapidly orienting their trade toward China.
After about 1500, navigation declined because of reorientation of trade toward the Atlantic and political disintegration of the Rhineland.
"Jordan's economy has been devastated because of the lack of trade toward Syria going north," said Andrew Harper, head of the United Nations refugee agency in Jordan.
Some of the shift in trade toward China comes from heightened tensions between India and Pakistan, which has hampered trade between the two countries.
"We've succeeded in moving the party from free trade toward fair trade," said Gerald Shea, an adviser to John Sweeney, the president of the labor federation.
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World Trade Organization: Toward Free Trade or World Bureaucracy?
UBS, as part of an overhaul, is shifting its focus away from risky trading toward its wealth management operations.
"Cryptos were probably a little ahead of themselves when BTC was trading toward $5,000," said Sean Walsh, partner at Redwood City Ventures.
At 13 times expected 2005 per-share earnings of $4.57, the stock trades toward the low-end of its five-year valuation range and at a discount to some peers.
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