Global Interdependence, Decoupling, and Recoupling

One lens through which to view global economic interdependence and the spillover of shocks is that of decoupling (and then recoupling). Decoupling between developed and developing countries can be seen in the strong economic performance of China and India relative to that of the United States and Europe in the early 2000s. Recoupling then took place as developing countries sank along with the developed world during the deepening financial crisis of 2008. This volume examines patterns of global economic interdependence and the propagation of shocks in an increasingly integrated world economy.

Yin-Wong Cheung is Chair Professor of International Economics at the City University of Hong Kong and Professor of Economics at the University of California, Santa Cruz. Frank Westermann is Chair for International Economic Policy in the Department of Economics and Business Administration, University of Osnabrueck, Germany.