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2. The Transatlantic Economy 2010: Annual Survey of Jobs, Trade and Investment between the United States and Europe
- Author:
- Daniel S. Hamilton and Joseph P. Quinlan
- Publication Date:
- 01-2010
- Content Type:
- Working Paper
- Institution:
- Center for Transatlantic Relations
- Abstract:
- Despite the recession, the United States and Europe remain each other's most important foreign commercial markets. No other commercial artery in the world is as integrated and fused as the transatlantic economy. We estimate that the transatlantic economy continues to generate close to $4.28 trillion in total commercial sales a year and employs up to 14 million workers in mutually “onshored” jobs on both sides of the Atlantic.
- Topic:
- Economics, Globalization, International Trade and Finance, Global Recession, and Financial Crisis
- Political Geography:
- United States and Europe
3. The Transatlantic Economy 2009
- Author:
- Daniel S. Hamilton and Joseph P. Quinlan
- Publication Date:
- 01-2009
- Content Type:
- Working Paper
- Institution:
- Center for Transatlantic Relations
- Abstract:
- After a five-year boom in prosperity, the transatlantic economy has fallen into what could be perhaps its deepest recession since World War II. Although the U.S. was the epicenter of the financial crisis, many European banks have exposure to U.S. subprime loans and embraced the risky lending practices of their American counterparts. The financial crisis and attendant recession underscore the deep integration of the transatlantic economy. Notions of “decoupling” are mistaken and are likely to lead to serious policy errors. Never before have Europeans and Americans had a greater stake in each other's economic success. Each has a substantial interest in the other's ability to weather current difficulties and to emerge in sound shape from the crisis.
- Topic:
- International Relations, Economics, Globalization, International Political Economy, and International Trade and Finance
- Political Geography:
- United States and Europe
4. Drifting Apart or Growing Together?
- Author:
- Joseph P. Quinlan
- Publication Date:
- 03-2003
- Content Type:
- Working Paper
- Institution:
- Center for Transatlantic Relations
- Abstract:
- One of the defining features of the global economic landscape over the past decade has been the increasing integration and cohesion of the transatlantic economy. Globalization is happening faster and reaching deeper between Europe and America than between any other two continents. The data in this study suggest that the past decade was not primarily about U.S. companies spreading their operations to the four corners of the globe. Rather, it was a time when the transatlantic economy became even more intertwined and interdependent. Failing to understand this dynamic can lead to serious errors of policy and cause significant damage to U.S. and European interests.
- Topic:
- Economics, Globalization, and Political Economy
- Political Geography:
- United States, America, and Europe