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US INTERNATIONAL TRADE AND THE GLOBAL ECONOMIC CRISIS

US INTERNATIONAL TRADE AND THE GLOBAL ECONOMIC CRISIS The decline in world trade volume in 2009 was the worst since the Great Depression. The United States (US) spread the global recession as a major source of external demand. US import and export data are examined to understand the repercussions, particularly for developing economies divided into preferential and non-preferential trading partners. A key finding is that US trade with preferential partners contracted faster than with non-preferential partners. Case studies of autos and textiles provide insights. A new global trade deal may be the way forward as the US will have to expand net exports to restore growth. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of International Commerce, Economics and Policy World Scientific Publishing Company

US INTERNATIONAL TRADE AND THE GLOBAL ECONOMIC CRISIS

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Publisher
World Scientific Publishing Company
Copyright
Copyright ©
ISSN
1793-9933
eISSN
1793-9941
DOI
10.1142/S1793993310000123
Publisher site
See Article on Publisher Site

Abstract

The decline in world trade volume in 2009 was the worst since the Great Depression. The United States (US) spread the global recession as a major source of external demand. US import and export data are examined to understand the repercussions, particularly for developing economies divided into preferential and non-preferential trading partners. A key finding is that US trade with preferential partners contracted faster than with non-preferential partners. Case studies of autos and textiles provide insights. A new global trade deal may be the way forward as the US will have to expand net exports to restore growth.

Journal

Journal of International Commerce, Economics and PolicyWorld Scientific Publishing Company

Published: Oct 1, 2010

Keywords: Asia autos textiles Free Trade Agreements North American Free Trade Agreement (NAFTA) United States

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