Global crisis Both advanced economies and emerging market and developing economies are in recession. Major economies have also been significantly downgraded. (real GDP growth, year-on-year percent change) 4 -2 -4 -6 -8 Great Lockdown 2020 Global Financial Crisis 2009 Advanced economies Emerging market and developing economies (real GDP growth, year-on-year percent change) 10 6. 4 -2 4 -6 8 -10 Great Lockdown 2020 Global Financial Crisis 2009 United States Euro area Japan China India Source: IMF, World Economic Outlook. Note: For India, data and forecasts are presented on a fiscal year basis, with FY2020/2021 starting in April 2020. India's growth is 0.5 percent in 2020 based on the calendar year.

Global crisis Both advanced economies and emerging market and developing economies are in recession. Major economies have also been significantly downgraded. (real GDP growth, year-on-year percent change) 4 -2 -4 -6 -8 Great Lockdown 2020 Global Financial Crisis 2009 Advanced economies Emerging market and developing economies (real GDP growth, year-on-year percent change) 10 6. 4 -2 4 -6 8 -10 Great Lockdown 2020 Global Financial Crisis 2009 United States Euro area Japan China India Source: IMF, World Economic Outlook. Note: For India, data and forecasts are presented on a fiscal year basis, with FY2020/2021 starting in April 2020. India's growth is 0.5 percent in 2020 based on the calendar year.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 28CTQ: Can you think of ways that globalization has helped you economically? Can you think of ways that it...

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Can you think of ways that globalization has helped you economically? Can you think of ways that it has not?