International Influence
10/21/2019 |
It may have been the dotcom bust of 2001 or the housing bust of 2008, but it’s always been the US that’s dragged other nations into recessions. Next time things may reverse. The US share of global GDP keeps falling, reducing our influence. Trade matters more to the US than before, and globally integrated capital markets mean US interest rates are increasingly dependent on foreign monetary and fiscal policy.