It appears to still be based off the differential in productions.
The decision to make the routes based off the differential in production/food is just so weird. It's like if New York City had billions of dollars in trading with Dubuque, Iowa, and then $5 worth of trade with London.
Now game mechanics don't always have to follow real life, but...why this is better for the game is beyond me. I just think it would be best if you got resources equal to 1/6 the combined population of both cities with a minimum of 1 and a maximum of 4. (i.e. 1<--->1 yields 1 each, a 5<--->7 would be 2 each, and anything above 12<--->12 would be 4 each. That, or it could be completely independent of population but buildings could add to trade yields, like autofactories give +1 production and laboratories give +1 beakers.
From a game design standpoint you want something that is easy to learn, intuitive, and viable for both tall or wide play. The current situation is confusing, bizarre, and requires a few large cities trading with puny ones.
(Also I have to figure out how to rape the benefits of this system because I don't know how to make a mega-city for food.)