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The China shock (or China trade shock) is the impact of rising Chinese exports on manufacturing employment in the United States and Europe after China's accession to the World Trade Organization in 2001.
As the world economy was affected by the 2007–2008 financial crisis, Greece was hit especially hard because its main industries—shipping and tourism—were especially sensitive to changes in the business cycle. The government spent heavily to keep the economy functioning and the country's debt increased accordingly.
A weekly update on the impact of the COVID-19 pandemic on the world economy, and on major individual economies such as the US, China, Japan, other Asian economies, Europe, Australia and New Zealand has been produced by Saul Eslake, one of Australia's best-known economists, since late April 2020.
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
An “escalation scenario” included in the study projected that the U.S. economy would shrink by $1.6 trillion over five years if tariffs were to continue increasing. ... How Trump’s Proposed ...
Trump initially promised during his campaign to institute a 10-20% tariff on all imports, and as high as 60% on goods from China. Economists worry that his tariff plan will raise the prices of ...
At the same time, Maddison showed them recovering lost ground from the 1950s, and documents the much faster rise of Japan and East Asia and the economic shrinkage of Russia in the 1990s. The book is a mass of statistical tables, mostly on a decade-by-decade basis, along with notes explaining the methods employed in arriving at particular figures.
Switzerland imported $279.2 billion worth of goods in 2018. 63.1% of those imports come from other European nations, with 20.7% from Asian countries, and 8.8% from North America. The top ten imports (2018) include: Gems and precious metals (31% of imports) Pharmaceuticals (10.7% of imports) Machinery- computers (7.2%) Vehicles (5.6%)