Jean, Sébastien; Martin, Philippe J.; Sapir, André - 2018
three major global powers (the European Union, the United States and China) of around 3 percent to 4 percent of GDP, as big …, the EU is partly protected by the size of its internal market. In addition, the short-term effects would be even greater … because of the negative supply and demand shock the global economy would be subjected to. For this reason, the EU must engage …