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The Global Role of the United States and China

M. Ayhan Kose|Franziska Ohnsorge|Marc Stocker|Csilla Lakatos
경제연구소 (Hanyang Economic Research Institute)|2020.08|Seoul Journal of Economics|제33권 제3호|pp. 283-305|DOI 10.22904/sje.2020.33.3.002

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참고문헌

키워드

UncertaintyChinaUnited StatesTradeGlobal EconomyBusiness CyclesSpillovers
주제분류경제학

초록

Economic developments in the United States and China, the world’s two largest economies, can have effects far beyond their shores. A slowdown in these economies would result in considerably lower global growth transmitted through trade, financial, and commodity market channels. Changing U.S. financial conditions could reverberate across global financial markets, with pronounced effects on emerging market and developing economies (EMDEs) that rely heavily on external financing. China’s continued deceleration and rebalancing toward domestic consumption and services will likely put downward pressure on commodity prices worldwide and is expected to adversely affect commodity exporters.

Abstract

Economic developments in the United States and China, the world’s two largest economies, can have effects far beyond their shores. A slowdown in these economies would result in considerably lower global growth transmitted through trade, financial, and commodity market channels. Changing U.S. financial conditions could reverberate across global financial markets, with pronounced effects on emerging market and developing economies (EMDEs) that rely heavily on external financing. China’s continued deceleration and rebalancing toward domestic consumption and services will likely put downward pressure on commodity prices worldwide and is expected to adversely affect commodity exporters.

참고문헌 (47)

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