Abstract
After the slow recovery from the 2008–2009 global financial crisis, the world economy now faces even slower growth and the prospects of global recession triggered by the USA–China trade war. This paper starts by examining whether the slow growth of the world economy was due to wrong or inadequate economic policies to overcome the crisis (great recession) and return to growth, or for other reasons. Then, it examines the reasons the United States is growing faster than other advanced countries, the slowing growth of emerging market economies (and even economic crisis in some of them), and whether the world is now sliding toward a new global financial crisis and recession triggered by the current trade war.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Bank for International Settlements (BIS). (2015). Annual Report. Basel.
Conference Board. (2016). Total economy Database. Washington, DC.
IMF. (2019a, April). World economic outlook. Washington, DC.
IMF. (2019b, April). Fiscal monitor. Washington, DC.
Klein, L., & Salvatore, D. (2013). From G-7 to G-20. Journal of Policy Modeling, May/June, 416–424.
OECD. (2016, November). OECD Economic Outlook. Paris: OECD.
OECD. (2018, May). OECD Economic Outlook. Paris: OECD.
OECD. (2019, May). OECD Economic Outlook. Paris: OECD.
Reinhart, C. M., & Rogoff, K. (2009). This time is different. Princeton University Press: Princeton, NJ.
Salvatore, D. (1998). Europe’s structural and competitiveness problems and the Euro. The World Economy, 21, 189–205.
Salvatore, D. (2004, October). Globalization, comparative advantage and Europe’s double competitive squeeze. Global Economy Journal, 4, 1–18.
Salvatore, D. (2007). The U.S. challenge of European firms: Globalization, architecture, and perceived innovativeness. European Journal of International Management, 1(1/2), 69–80.
Salvatore, D. (2010). Causes and effects of the global financial crisis. Journal of Politics and Society, 21(Spring), 7–16.
Salvatore, D. (2016). Slow recovery and growth for the United States. Journal of Policy Modeling, 38(July/August), 624–631.
Salvatore, D. (2017). Europe’s growth crisis: When and how will it end? The World Economy, 40(May), 836–848.
Salvatore, D. (2018). Trump economics: Overview of effects on the United States and the World. Journal of Policy Modeling, 40, 480–488.
Salvatore, D., & Campano, F. (2018). Simulating some of the administration’s proposed trade policies. Journal of Policy Modeling, 40(May/June), 636–646.
White House Office of Trade and Manufacturing Policy. (2018). China’s economic aggression. DC: Washington.
World Bank. (2016). Doing business. Washington, DC.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Switzerland AG
About this paper
Cite this paper
Salvatore, D. (2020). Slower World Growth or Global Recession with the Trade War?. In: Paganetto, L. (eds) Capitalism, Global Change and Sustainable Development. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-46143-0_1
Download citation
DOI: https://doi.org/10.1007/978-3-030-46143-0_1
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-46142-3
Online ISBN: 978-3-030-46143-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)