Panic Spreading Across Nations Outranks Trade

When the U.S. or Europe sneezes, the rest of the world needn’t catch a cold. Global trade and financial linkages weren’t strong enough by themselves to have caused the global recession in 2008 that followed the U.S. subprime crisis, according to economics professors Philippe Bacchetta of Switzerl…

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Panic Spreading Across Nations Outranks Trade