Turning Point: World leaders confront rising anti-globalization sentiment. Both major party presidential candidates in the United States professed to be staunchly opposed to the Trans-Pacific Partnership trade agreement, and Donald J. Trump called for ripping up existing trade treaties like Nafta. A classic example of a misguided initiative is the effort to promote a bilateral investment treaty between the United States and China. While economic growth continued in 2016 for the United States, the European Union and Japan, it did so at rates that would have seemed unacceptably low a decade ago. These and other statistics indicate that the United States and Europe are just one recessionary shock away from being caught in a deflationary trap.

Source: New York Times December 05, 2016 09:07 UTC