Is the world economy’s current, long-running upturn running out of steam? Jittery financial markets that have struggled to regain a firm footing since February’s sell-off, anxieties over the US-China trade tariffs confrontation, and now a spate of weaker data for some major economies have all sparked concern over whether the global economy’s expansion may be stuttering or at risk.
The US-China Business Council commissioned Oxford Economics to assess the overall impact of the trade and economic relationship with China on the US economy. The study shows that today, the US-China trade relationship actually supports roughly 2.6 million jobs in the United States and, as the Chinese middle class continues its rapid expansion over the next decade, US companies face significant opportunities to tap into a new and lucrative customer base that can further boost employment and economic growth.
Breaking new ground in macro research, Oxford Economics has captured current and historical statistics on bilateral trade in services for 24 key trading nations to build a unique, comprehensive database. These previously elusive data give us unprecedented insight into the evolution of services trade.