During a blue-sky moment in 2018, near the end of a decade-long economic expansion, it was the US that helped pull the world along as the extra cash from tax cuts and government spending flowed through domestic and global markets.
But if it was US policy that pushed the world higher then, it is US policy that threatens to pull the world under now, as the country’s troubled response to the coronavirus pandemic emerges as a chief risk to any sustained global recovery. Officials from Mexico to Japan are already on edge. Exports have taken a hit in Germany and Canada looks south warily, knowing that any further hit to US growth will undoubtedly spill over...A subscription gives you full digital access to all Times Select content.
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