The U.S. economy has been growing faster in recent months. But with so much talk about trade wars and tariffs, I’m wondering how the rest of the world’s economy is doing.
- The good news is, the global economy is still doing rather well
- Growing at rates similar to the US
- Continues a trend set in 2017, when world economic growth helped all countries
- China is showing a little slowdown – 7% growth last year, 6.5% this year, and 6% next year
- Impacts of trade wars on Chinese economy is overstated by looking at their $500 billion exports to the US
- Doesn’t subtract the large amount of imported inputs into this number
- Still, world economic growth will be helped by a resolution to the trade disputes
- But even with them, world economy is not crashing
The Economic Perspective is an NC State Extension program from the Department of Agricultural and Resource Economics.