If the Schumer-Graham bill closes down U.S. trade with China through the imposition of steep tariffs, a saving-short U.S. economy will simply have to divert a significant portion of its multilateral trade deficit elsewhere.
If the Schumer-Graham bill closes down U.S. trade with China through the imposition of steep tariffs, a saving-short U.S. economy will simply have to divert a significant portion of its multilateral trade deficit elsewhere.
Global trade is an increasingly large component of the world economy -- now accounting for close to 25 percent of global GDP. So when world trade hits the wall, so should the broader measures of global output.
Trade liberalization is a plus for global growth, no question about it.
© 2020 Inspirational Stories
© 2020 Inspirational Stories