US INTERNATIONAL TRADE AND THE GLOBAL ECONOMIC CRISIS

William E. James ()
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William E. James: Economics and Research Department, Asian Development Bank, Manila, Philippines 1550, Philippines

Journal of International Commerce, Economics and Policy (JICEP), 2010, vol. 01, issue 02, 183-225

Abstract: The decline in world trade volume in 2009 was the worst since the Great Depression. The United States (US) spread the global recession as a major source of external demand. US import and export data are examined to understand the repercussions, particularly for developing economies divided into preferential and non-preferential trading partners. A key finding is that US trade with preferential partners contracted faster than with non-preferential partners. Case studies of autos and textiles provide insights. A new global trade deal may be the way forward as the US will have to expand net exports to restore growth.

Keywords: Asia; autos; textiles; Free Trade Agreements; North American Free Trade Agreement (NAFTA); United States; F1; F2; L6 (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1142/S1793993310000123

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