Growth and trade in the United States and the world economy: Overview

After the slow recovery from the 2008-2009 global financial crisis, the world economy faced slower growth than in the previous decade and even the prospect of a new global financial crisis. This paper starts by examining the reasons for the slow economic recovery and growth in the after the 2008-2009 global financial crisis and great recession. Then, it examines the reasons the United States grew faster than other advanced countries (especially Europe and Japan), the slowing growth of emerging market economies (and even economic crisis in some of them), and whether the world is now (February 2020) sliding toward a new global financial crisis and recession. (c) 2020 Published by Elsevier Inc. on behalf of The Society for Policy Modeling.