S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics (SJE) Seoul Journal of Economics vol.33 no.1~4 (2020)
The Global Role of the United States and China
- Issue Date
- Seoul Journal of Economics, Vol.33 No.3, pp.283
- United States ; China ; Spillovers ; Uncertainty ; Trade ; Business cycles ; Global economy
- Economic developments in the United States and China, the
worlds 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. Chinas 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.