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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.
The restrictions that remain are nevertheless of major economic importance: among other estimates, [31] the World Bank estimated in 2004 that the removal of all trade restrictions would yield benefits of over $500 billion a year by 2015. [32] [needs update] The largest of the remaining trade-distorting policies are those concerning agriculture.
Since the trade balance (exports minus imports) is generally the biggest determinant of the current account surplus or deficit, the current account balance often displays a cyclical trend. During a strong economic expansion, import volumes typically surge; if exports are unable to grow at the same rate, the current account deficit will widen.
Economists worry that Trump's tariff plan will raise the prices of a range of imported goods, from cars to electronics.
China's trade has been gradually declining for the past two years, though August's drops in export and imports were less severe than in July, when exports fell 14.5% from a year earlier while ...
Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...
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 ...
Shift of the world's economic center of gravity since 1980 and projected until 2050 [1]. The gravity model of international trade in international economics is a model that, in its traditional form, predicts bilateral trade flows based on the economic sizes and distance between two units. [2]