Pantheon Macroeconomics

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24th Aug 2015 04:57U.S., Economic Monitor

If the plunge in the stock market last week, and especially Friday, was a entirely a reaction to the slowdown in China and its perceived impact on other emerging economies, then it was an over-reaction. Exports to China account for just 0.7% of U.S. GDP; exports to all emerging markets account for 2.1%. So, even a 25% plunge in exports to these economies-- comparable to the meltdown seen as global trade collapsed after the financial crisis--would subtract only 0.5% from U.S. growth over a full year, gross.

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Keywords for: 24 August. 2015 The U.S. Will be A Net Gainer from EM Turmoil, Thanks to Cheap Oil

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