An analysis of a U.S. recession's impact on the global economy.
Written in 2009; 3,328 words; 9 sources; APA; $ 95.95
Paper Summary:
The paper relates that as the major economic engine in the global economy, any major spikes in the U.S. economy will have concomitant effects on the global economy as well. The paper then discusses how the rising cost of energy has emerged as one of the most important factors in the debate over the relationship of the U.S. economy and the larger global economy. Next, the paper examines growth patterns in the global economy and identifies the impact of recessions in the U.S. on the global economy. In addition, the paper explores current and future economic trends and reveals that developing nations in particular appear to be most vulnerable to recessionary periods in the U.S. economy.
Outline:
Introduction
Energy, Energy, Energy
Asynchronous and Synchronous Growth Patterns in the Global Economy
Identifying the Impact of Recessions in the U.S. on Global Economy
Current and Future Trends
From the Paper:
"Because resources are by definition scarce, it is not surprising that energy has emerged as one of the most important factors involved in the current debate over the inextricable relationship of the U.S. economy and the larger global economy in which it competes. As many cities across the country witness $4.00-a-gallon-plus gasoline today, the predictions made by Verleger (2006) may seem eerily accurate, but still painful as the skyrocketing costs of energy can reasonably be assumed to contribute to downturns in economic growth. As this author cautioned two years ago, "In 2006, inflation rates may rise to above 5 percent in the United States if economic growth continues at current rates, even if the dollar holds its value. Such an increase in inflation would be caused by economic growth that would pull oil prices to $100 per barrel" (Verleger 16). Indeed, among the constellation of economic metrics that tend to influence recessionary periods and the ripple effect on the global economy are these rising energy costs."
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