The Global Economy Recover or Reconfigure Part I

Despite the rise of China and significant shifts in the global economy over the past decades, the transatlantic economy remains the world’s biggest and closest commercial relationship. After a decade of recovering from the financial crisis and the ensuing crisis in the eurozone, economies on both sides of the Atlantic were thrown back into recessions last year, as the coronavirus pandemic covered the globe and brought economic activity to a near standstill. Now with vaccines being deployed, recovery is on the way, but some observers worry about an unequal pace and divergence in economic growth across the Atlantic. While the United States is pressing ahead with vast stimulus packages, the European response thus far seems a bit more muted. Given these developments, are there structural changes that need to be made to our economic systems? How can local leaders work hand in hand with leaders at the federal level to ensure that economic recovery policies benefit all parts of society? What is the potential for U.S.-European cooperation during the economic recovery?