The Global Benefits and Losses from The U.S. Recession and Recovery Package

Abstract

Until 2007, many people had believed that global economic growth, led by the U.S., could continue unabated for the foreseeable future. Mainstream commentators based their optimism on greater global economic integration and the adoption of market-driven patterns of development. They seemed little concerned that global current-account imbalances, especially the U.S. deficit, would remain huge. (...)

Até 2007, muitas pessoas acreditavam que o crescimento econômico mundial, liderado pelos E.E.U.U., poderia