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Article: The Core of the Global Economy - The combined U.S.--EU gross domestic product is $18 trillion, dwarfing all other economic relationships in the world.(United States- European Union trade relationship)(Column)(Statistical Data Included)
- Article from:
- The World and I
- Article date:
- April 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The European Union and the United States form the core of the global economy. America has the world's largest single GDP, about $9.5 trillion. The 15 states of the European Union jointly have the next largest, $8.5 trillion, and will have a larger one when all the prospective new members join by the second decade of this century. Japan, at about $3.2 trillion, is a distant third.
The United States and the EU are also the most important members of the World Trade Organization, which governs the international trading system, as well as of the World Bank and the International Monetary Fund.
Moreover, the United States and four EU members--France, Germany, ...