TY - JOUR AU - Guillén, Arturo PY - 2019/07/01 Y2 - 2024/03/29 TI - USA’s trade policy in the context of global crisis and the decline of North American hegemony JF - Brazilian Journal of Political Economy JA - BJPE VL - 39 IS - 3 SE - DO - 10.1590/0101-31572019-3046 UR - https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/13 SP - 387-407 AB - <p>The global crisis of 2007 reinforced the deflationary tendencies, as well as the withdrawal of the central countries inwards. After the Great Recession 2008-2009, most economies have experienced semi-stagnation and deglobalization processes. The crisis accelerated the decline of the hegemony of the United States. While they retain an overwhelming military advantage and maintain financial hegemony, they have lost ground in production, in international trade and in direct foreign investment. Trump’s trade policy will accelerate deglobalization. And while its tax cut has had a short-term positive effect on growth, it will be difficult to overcome “secular stagnation”.</p><p><strong>JEL Classification:</strong> F4.</p> ER -