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From silks and spices … The basis for modern global trade was established in the 15th and 16th centuries with China, India and countries in Southeast Asia serving as the origin of trade flows based on luxury items like silk, spices, tea and porcelain. To electronic devices …. Since then, the global economic system has experienced several waves of change culminating in today’s highly globalized economy. During this march to a smaller world with a larger global economy, the maritime shipping industry has continually evolved and adapted to take advantage of new opportunities. At the same time, the industry’s innovations have helped facilitate globalization. These developments have affected the risk landscape for the shipping industry, as well as for companies that have come to rely on faster, cheaper and more reliable transport. XL Catlin’s Bert Nelen, Regional Practice Leader Marine – Continental Europe, Middle East & Africa, and Pascal Matthey, Head Specialty Lines Risk Engineering, describe the symbiotic relationship between globalization and the maritime shipping industry, and the impact of these developments on the risk landscape.