PS: CUỘC KHỦNG HOẢNG TÀI CHÍNH 2018-2019 NẾU XẢY RA THÌ SẼ VÔ CÙNG KHÁC 2008 NHÉ ( XÉT VỀ ĐỊA CHÍNH TRỊ)!DON'T FORGET PLEASE!
IT IS 2020. The world economy is in a deep recession. Two years have passed since America imposed tariffs on many of its trading partners, prompting retaliation from China, Canada, the European Union and others. Negotiations to resolve differences faltered amid tensions over trade surpluses and deficits. The effects of the protectionist measures seemed modest at first, when global economic growth was still fairly strong. But costs gradually started to add up for businesses and consumers. Investments faltered. Global supply chains choked.
Then, in 2019, the American business cycle turned. In China, confidence in corporations’ ability to service debt fell. Financial markets plummeted. As the renminbi lost value, making Chinese products cheaper abroad, the American government placed even tougher quotas on many imports. Surplus goods from China flooded into other markets, where pressure to raise import barriers became irresistible. The downturn worsened. Job losses soared into the tens of millions.
