The World Economy

1996 ◽  
Vol 155 ◽  
pp. 26-55
Author(s):  
Julian Morgan ◽  
Nigel Pain
Keyword(s):  
United States ◽  
World Economy ◽  
Raw Materials ◽  
The United States ◽  
Japanese Economy ◽  
The European Union ◽  
National Accounts ◽  
Real Gdp ◽  
The Us ◽  
The World

There are now widespread signs that activity in the world economy has slowed sharply. This slowdown has been particularly marked within Europe, where our estimates suggest that the European Union economies may have expanded by only some 0.6 per cent in the second half of last year. Elsewhere, the Japanese economy has still to emerge from recession and growth has possibly declined in the United States to a little below trend levels (Chart 1). The perception of recent growth in the US has also changed significantly as a result of the recent rebasing of their national accounts, with the growth of real GDP in 1995 now projected to be between 2–2 1/4 per cent rather than 3 1/4 per cent as shown in our previous forecast. We discuss this issue in more detail below. Overall growth in the OECD region is now projected at 2 per cent in 1995, after 2.6 per cent in 1994. This slowdown has been reflected elsewhere within the world economy, with total world trade growth estimated to have declined to around 6 3/4 per cent last year, and the prices of many industrial raw materials having begun to weaken. For 1996, we presently expect growth of 2 1/4 per cent in the OECD region and growth of 2 per cent in both Europe and the United States.

Germany's relations with the United States and China from a strategic triangle perspective

2021 ◽  
Author(s):  
Sebastian Biba
Keyword(s):  
United States ◽  
European Union ◽  
The United States ◽  
Great Power ◽  
The European Union ◽  
Bilateral Relations ◽  
Puzzle Piece ◽  
The Us ◽  
The World ◽  
Angela Merkel

Abstract As the Sino-American Great Power competition continues to intensify, newly-elected US President Joe Biden's administration now seeks to enlist the support of its allies and partners around the world. As Europe's largest economy and a, if not the, leading voice within the European Union, Germany represents an important puzzle-piece for Biden. But Germany, at least under outgoing chancellor Angela Merkel, has been reluctant to take sides. It is against this backdrop that this article looks into Germany's past and present trilateral relationships with the US and China through the theoretical lens of the so-called strategic triangle approach. Applying this approach, the article seeks to trace and explain German behaviour, as well as to elucidate the opportunities and pitfalls that have come with it. The article demonstrates that Germany's recently gained position as a ‘pivot’ (two positive bilateral relationships) between the US and Chinese ‘wings’ (positive bilateral relations with Germany and negative bilateral relations with each other) is desirable from the perspective of the strategic triangle. At the same time, being pivot is also challenging and hard to maintain. Alternative options, such as entering a US–German ‘marriage’ directed against China, are also problematic. The article therefore concludes that Germany has tough decisions to take going forward.

United States and Its Challenge to Multilateralism in the Global Economy

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.
Keyword(s):  
United States ◽  
Global Economy ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Bilateral Trade ◽  
Developing Economies ◽  
The United States ◽  
The Us ◽  
The World ◽  
Merchandise Trade

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

STATE, TRENDS, AND STRUCTURE OF THE WORLD NANO-POWDER MARKET

2019 ◽  
Author(s):  
Malyshev ◽  
Kushchevska ◽  
Bruskova
Keyword(s):  
United States ◽  
Titanium Dioxide ◽  
Metal Oxide ◽  
Tin Oxide ◽  
Raw Materials ◽  
The United States ◽  
World Market ◽  
Asia Pacific ◽  
The Us ◽  
The World

The purpose of this study is to provide a comprehensive analysis of the global nanopowder market. Materials and methods. The study used such research methods as system-logical method, method of statistical generalization, comparative and factor analysis. Research results. It is known that nanopowders are obtained by chemical, physical, physico-chemical and mechanical methods. One of the major problems in the production of nanopowders is the tendency of nanoparticles to form aggregates and agglomerates that complicate the production of compact materials. To overcome the forces of agglomeration, a mechanical force or an increase in the sintering temperature must be applied. According to estimates from the consulting company Lux Research, in 2012, the nanotechnology market was $ 190.3 billion. Its annual growth is 15-17%. The world market leaders are the United States ($ 59 billion), Europe ($ 47 billion) and the Asia Pacific region ($ 9.4 billion). The US is the leader in both the commercial market and the number of publications (about 25,000 in 2015) and patents in nanotechnology (45% of patents). Following the results of 2015, more than $1.4 trillion worth of nanotechnology products were manufactured. In the structure of production of nanoproducts the chemical industry, scientific researches (intermediary products, as a rule, not serial) and electronics are leading. Global investments in nanotechnology in 2015 totaled $ 18.1 billion. This indicator increased by 18% compared to 2013. Corporate investments ($ 8.6 billion) became the main source of financing (public - only $ 8.3 billion). The leaders in terms of public investment are the US and the EU. Experts estimate that, by 2020, investment leadership may shift to Japan. Today, the leader in the nanomaterials market is the United States with a projected revenue level of 2018 of $ 1.46 billion. The main products on the world market for nanopowders are metal oxide powders. In the product group of metal oxides 4/5 the production volume accounts for the three most common types of raw materials: silica (SiO2), titanium dioxide (TiO2) and alumina (Al2O3). At the same time, silica occupies more than half of all production, alumina - 18% and titanium dioxide - 10%. The most available oxides are oxides of iron, zinc, cerium, zirconium, cuprum, magnesium, yttrium. The most complex oxides and mixtures are: tin oxide, barium titanate, cobalt carbide, silicon nitride and indium tin oxide. An analysis of the patents presented for nanopowder research has shown that the most promising area of ​​scientific development is aluminum and precious metal nanopowders. Conclusions. Analysis of the world nanopowder market makes it possible to identify the following indicators that characterize its development: the common problem in the nanomaterials market is high cost of production, low volume of production and accessibility for the end consumer; the most developed nanopowder markets: USA, Europe and Asia-Pacific; projected growth rates during 2015-2020 The three largest components of the nanomaterials market: energy, production of catalysts, structural materials - 60%, 13% and 30% respectively; production of metal oxide products prevails in the world market of nanopowders; the most common types of raw materials: silica) - more than half of all production, titanium dioxide - 10% and alumina - 18%.

scholarly journals Matrix Hard - The Impact of Technological, Economic and Social Indicators on Productivity and Competitiveness

2020 ◽  
Vol 3 (4) ◽  
pp. 37-44
Author(s):  
Marina Popa ◽  
Maia Pisaniuc
Keyword(s):  
United States ◽  
European Union ◽  
World Economy ◽  
Social Indicators ◽  
The United States ◽  
The European Union ◽  
The World ◽  
The Impact ◽  
Productivity And Competitiveness ◽  
Economic And Social Indicators

The objective of this research is to demonstrate the impact of technological, economic and social indicators on productivity and competitiveness through the HARD Matrix method, proposed by the European Commission. The level of economic development of different countries, as well as the degree of diversification and specialization of their world production, determines the degree of integration of national economies in the world economy that differs considerably by country and group of countries. The expansion and amplification of the internationalization process have substantially changed the place and role of each state in the world economy. Due to this process, today's world economy is no longer a simple sum of economies put in contact, but a global-universal system, unitary through the interrelationships between the component subsystems and its extremely heterogeneous structure. In the twenty first-century, the process of amplifying innovation, the net economy, and the Covid 19 pandemic have shaped new trends in the world countries and determined the balance of power between the three great empires of the world – the United States, the European Union, and China. At the same time, there are no similar links between the United States, the European Union and China, they do not share the same culture, do not share the same geographic space, and do not use the same models of economic development, but all of them consider innovation, sophisticated business, technology, safe tools in promoting economic growth and competitiveness.

scholarly journals Towards a Neo-bipolar Model of the World Order: Scouting Game in Africa

2019 ◽  
Vol 12 (3) ◽  
pp. 6-29
Author(s):  
L. L. Fituni
Keyword(s):  
United States ◽  
World Economy ◽  
World Order ◽  
The United States ◽  
New World Order ◽  
Global Order ◽  
The Us ◽  
The World ◽  
The Usa ◽  
General Movement

The article lays out a hypothesis that the global order slides into a new bipolarity in the context of the escalating geo-economic and geopolitical confrontation between the two poles that currently dominate the world - the United States and China. The neo-bipolar construction cannot yet be regarded as an established new world order, but the general movement of the world economy and international relations in this direction is obvious. The neo-bipolar bipolar confrontation manifest itself with varying intensity in different regions of the world. The author argues that at present the peripheral regions which are strategically important for the prospects of competition are becoming an important testing ground for relatively “safe” elaboration of methods and tactics of geo-economic rivalry and h mutual exchange of systemic attacks. Today, Africa has become practically the leading theater of the new bipolar confrontation. The article analyzes the economic, military and strategic aspects of the rivalry between the United States and China on the African continent. It provides a comparative analysis of the new African strategies of the two superpowers adopted at the end of 2018. The author asserts that in the context of the emerging global bipolarity, the strategies of the USA and China represent antagonistic programs based on fundamentally different initial messages. In the case of the US strategy, this is to deter by denial the spread of the competitor’s influence using tough policies, including forceful (while not necessarily military) confrontational actions. While China seeks to neutralize the opposition of the United States and its allies to Beijing’s expansion on the continent and to win the freedom of interaction with any partners in Africa causing minimal direct confrontation possible. Therefore, despite the seemingly “peripheral” importance of the confrontation on the continent, for the establishment of a neo-bipolar world order, the proclamation of the new US regional geopolitical strategy, which focuses on the containment of China in the name of protecting democracy and independence, can serve not only for Africa, but for the whole planet the same milestone signal as Churchill’s Fulton speech for the final advent of bipolarity in the postwar world.

Prospects for the global economy to end-2019

2019 ◽  
Keyword(s):  
United States ◽  
Fiscal Policy ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
The United States ◽  
Content Type ◽  
The Us ◽  
The World

Subject Prospects for the global economy to end-2019. Significance The world economy is likely to grow by around 3% this year. This is the lower end of the 3.0-3.5% range expected six months ago. World trade is weakening amid the US-China conflict and productivity is not picking up. China is expanding fiscal policy and others may follow, perhaps Germany and the United States. Monetary tightening is off the table and some countries may loosen policy. However, this will mainly shore up growth rather than raising it.

Chapter III. The World Economy

1976 ◽  
Vol 75 ◽  
pp. 33-63
Keyword(s):  
United States ◽  
United Kingdom ◽  
Industrial Production ◽  
World Economy ◽  
Good Deal ◽  
The United States ◽  
National Accounts ◽  
Industrial Countries ◽  
The United Kingdom ◽  
The World

The fall in output in the industrial countries in 1975 was substantially greater than we and most other observers foresaw a year ago.After big revisions of the national accounts for the United States, the fall in aggregate output in the member countries of OECD now works out a good deal smaller on our estimates than it did in November. But the final figure still seems likely to be close to 1¾ per cent, compared with our February forecast of ½ per cent. For industrial production we were much wider of the mark, the actual decline being 8–9 per cent as against the 2 per cent that we predicted. Geographically our error was heavily concentrated among the major European countries including the United Kingdom—on the latest figures we actually under-predicted United States output by a substantial amount—and it appears to have sprung from two main sources.

STUDY OF THE LINKS BETWEEN THE DEVELOPMENT OF THE WORLD ECONOMY AND TRANSPORT IN 1995–2015

2017 ◽  
Vol 71 (0) ◽  
pp. 65-72
Author(s):  
Maciej Mindur
Keyword(s):  
United States ◽  
World Economy ◽  
The United States ◽  
Gdp Growth ◽  
The European Union ◽  
Military Industry ◽  
Developed Economies ◽  
The World ◽  
Dynamic Growth ◽  
Economic Measure

The article provides a synthetic analysis of the interrelationships between economic development, the primary economic measure of which is the size of Gross Domestic Product, and the volume of transport work measured in tkm and pkm. The study was conducted over a 30-year time series based on the polynomial curves of the most-developed economies (the United States, Japan, China and EU-28) and Russia, the largest area of the world, with large natural resources and significant military industry, and constantly increasing since 2004 GDP. The research shows that GDP in the whole period (1995–2015) in the United States, Japan and the European Union is growing rapidly, significantly ahead of the tkm and pkm transport indicators. In China and Russia, GDP growth has been increasing since 2003, while the dynamic growth of transport (in billion tkm) in 1995–2015 is well ahead of economic growth (GDP). In Poland, trends in the development of the GDP measurement and transport indicators (tkm and pkm) are similar to those of Russia and China.

scholarly journals The International Monetary and Financial System

2019 ◽  
Vol 11 (1) ◽  
pp. 859-893 ◽  
Author(s):  
Pierre-Olivier Gourinchas ◽  
Hélène Rey ◽  
Maxime Sauzet
Keyword(s):  
United States ◽  
World Economy ◽  
Balance Sheet ◽  
The United States ◽  
Exorbitant Privilege ◽  
International Currencies ◽  
The Us ◽  
The World ◽  
Us Dollar ◽  
Triffin Dilemma

International currencies fulfill different roles in the world economy, with important synergies across those roles. We explore the implications of currency hegemony for the external balance sheet of the United States, the process of international adjustment, and the predictability of the US dollar exchange rate. We emphasize the importance of international monetary spillovers and of the exorbitant privilege, and we analyze the emergence of a new Triffin dilemma.

Chapter II. The World Economy

1991 ◽  
Vol 136 ◽  
pp. 34-59
Author(s):  
Andrew Gurney ◽  
Jan Willem In't Veld ◽  
Ray Barrell
Keyword(s):  
United States ◽  
Monetary Policy ◽  
United Kingdom ◽  
Interest Rates ◽  
World Economy ◽  
The United States ◽  
National Accounts ◽  
Short Term ◽  
Percentage Points ◽  
The World

GNP growth in the major seven economies continues to decline from the cyclical peak reached in 1988. The latest national accounts statistics show that all major seven economies are now growing more slowly than they did last year, with the United States, United Kingdom and Canada in recession. This slowdown in activity appears to have been caused primarily by the tightening of monetary policy that occurred between 1988 and 1990. Short-term interest rates rose by 4.4 percentage points in Germany between 1987 and 1990, by 3 percentage points in Japan between 1987 and 1990, and by 2.2 per cent in the United States between 1987 and 1989.

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