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Today the Euro area and the European Union are facing the biggest challenges ever. The Euro crisis is not over yet as the Euro area economy is still ailing. Political support for Europe is rapidly decreasing, thus leading to more populist demands for leaving the EU in several member states, especially after the British Brexit vote. Why did the Europeans embark on this unique experiment? Was it a really a good idea? How did the crisis come about? Will the Euro survive and if yes, under which conditions? This short guide aims at addressing these issues.
This short guide aims at increasing the readers’ understanding of contemporary global trade issues. In the view of most economists since Adam Smith, globalization of trade and investment has contributed enormously to increase “the wealth of the nation”. However, there is also a “dark side” of globalization: structural change that requires often deep and painful adjustments for workers and companies that cannot keep pace with foreign competition, which sometime is also considered “unfair”. This guide reviews the most recent developments in global trade through the lens of contemporary trade theory and a European perspective.