A De-Globalized World?
It may take a few months or a couple of years, but one way or another the US and other advanced economies will eventually recover from today’s crisis. We are, however, likely to find ourselves in a somewhat de-globalized world, in which international trade grows more slowly, external finance declines, and rich countries’ lose their appetite for running large current-account deficits.
https://prosyn.org/wF6W08h
Cambridge – It may take a few months or a couple of years, but one way or another the United States and other advanced economies will eventually recover from today’s crisis. The world economy, however, is unlikely to look the same.