The slower growth in the U.S. economy is a sharp reminder of just how important a role its powerful appetite plays in absorbing the exports of many countries and just how critical that strong U.S. demand has been to global economic growth.
Of course, the United States has been far from alone in absorbing goods and resources from around the world to feed its economic expansion. The extent of the strong worldwide demand, particularly the demand for commodities coming from the emerging powers of China and India, has fuelled Canadian and Australian growth and also has reminded us of just how closely intertwined countries have become.