Editing 2010s (section)

==Economics==
[[File:Greek debt and EU average.png|thumb|Greece and Eurozone's rise of debt in the early years of the decade]]
[[File:ABS-6416.0-ResidentialPropertyPriceIndexes-EightCapitalCities-ResidentialPropertyPriceIndexIndexNumbersPercentageChanges-ResidentialPropertyPriceIndex-WeightedAverageEightCapitalCities-A83728455L.svg|thumb|The weighted capital city residential property price index, produced by the Australian Bureau of Statistics, since 2003]]
[[File:Man and delivery robot waiting at pedestrian crosing in Redwood City, California.jpg|thumb|A man and a delivery robot waiting at a pedestrian crossing in [[Redwood City, California]], [[United States]]. [[E-commerce]] spurred advancements in [[Delivery drone|drone delivery]] and transformed parts of the services and retail sectors]]
[[File:New York and Jersey City Skyline Panorama Crop 2 - One World Trade Center.jpg|thumb|upright|In 2014 the [[One World Trade Center]] opened its doors in the [[Financial District, Manhattan|Financial District]] of Manhattan, serving as a replacement to the original World Trade Center Twin Towers that were destroyed in 2001. On the 10th anniversary of 9/11 in 2011 (the same year [[Osama bin Laden]] was killed), the [[9/11 Memorial]] was opened.]]

The [[global economy]] during the 2010s was generally strong. It saw steady growth, low unemployment, and increasing consumer confidence recovering from the [[Great Recession|great recession]]. The decade ended with a strong finish, with 2019 seeing record highs in many areas. A [[European debt crisis|sovereign-debt crisis in Europe]] began in early 2010, and the [[Greek government]] admitted that it was having difficulties servicing its large [[sovereign debt]]. In the summer and fall of 2011, bond yields for [[Italy]] and Spain spiked above 6 percent.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-14385636 |work=BBC News |title=Bond market developments are deep concern, says Barroso |date=3 August 2011}}</ref> By 2015 bond rates had returned to normal ranges across Europe, save for Greece, which accepted another, even more stringent bailout package. The size of the [[European Financial Stability Facility]] was increased from €440 billion to €2 trillion.<ref>{{cite news |url=http://www.cnn.com/2011/10/27/business/euro-debt-crisis-plan/index.html |publisher=CNN |title=Does debt deal solve euro woes? |date=27 October 2011}}</ref> Despite the Eurozone debt crisis, the American [[Dow Jones Industrial Average]] had its longest stretch of gains since the late 1990s tech boom.<ref>[http://www.frbsf.org/education/publications/doctor-econ/2001/february/bull-bear-market-dow-jones#footnote8 "When were the most prolific bull and bear market periods in the United States?"] Federal Reserve Bank of San Francisco, 2001. Web. 6 January 2015.</ref> However, economic issues, including inflation and an increase in [[commodity]] prices, sparked unrest in many lower-income countries. In some countries, particularly those in the [[Arab world]], political unrest evolved into [[socioeconomics|socioeconomic]] crises, resulting in the [[Arab Spring]] leading to political instability and civil wars.

As a result of the global recession, many central banks instituted a [[zero interest-rate policy]], or close to it.<ref>{{cite news |last1=Tan |first1=Weizhen |title='Addiction' to cheap money will do 'tremendous damage' to the global economy |url=https://www.cnbc.com/2019/10/17/central-banks-cutting-interest-rates-to-zero-or-negative-bad-for-economy.html |publisher=CNBC}}</ref> Another form of monetary [[stimulus (economics)|stimulus]] was that of [[quantitative easing]]. The resulting flood of [[market liquidity]] caused a rise in [[Asset (finance)|asset]] prices.<ref>{{cite news |last1=Enda |first1=Curran |title=Central Bankers Are Playing a Dangerous Game With Asset Prices |url=https://www.bloomberg.com/news/articles/2019-07-24/storing-up-trouble-why-central-banks-may-only-delay-recession |publisher=Bloomberg}}</ref> As a result, for example, United States [[Capital stock|stock]] prices reached record highs.<ref>{{cite news |last1=Bartash |first1=Jeffrey |title=It's great the stock market is setting records, but it's not because the economy is great |url=https://www.marketwatch.com/story/its-great-the-stock-market-is-setting-records-but-its-not-because-the-economy-is-great-2019-11-16 |publisher=MarketWatch}}</ref> Another consequence has been the rise in housing prices in many major [[world cities]].<ref>{{cite news |last1=Evans |first1=Judith |title=Real estate: post-crisis boom draws to a close |url=https://www.ft.com/content/64c381c8-8798-11e9-a028-86cea8523dc2 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/64c381c8-8798-11e9-a028-86cea8523dc2 |archive-date=10 December 2022 |url-access=subscription |url-status=live |work=Financial Times}}</ref> Some of the cities which recorded the most dramatic rises included [[Sydney]], [[San Francisco]], [[Vancouver]], and [[Auckland]].<ref>{{cite news |title=Our cities house-price index suggests the property market is slowing |url=https://www.economist.com/finance-and-economics/2018/08/11/our-cities-house-price-index-suggests-the-property-market-is-slowing |newspaper=The Economist |date=11 August 2018}}</ref>

In 2010, China became the second largest global economy, surpassing Japan.<ref>{{cite news |url=https://news.yahoo.com/s/ap/20110214/ap_on_bi_ge/as_japan_economy |title=Japan confirms China surpassed its economy in 2010 |first=Tomoko A. |last=Hosaka |publisher=Yahoo! |url-status=dead |archive-url=https://web.archive.org/web/20110220105329/http://news.yahoo.com/s/ap/20110214/ap_on_bi_ge/as_japan_economy |archive-date=20 February 2011}}</ref> Japan also saw a rating downgrade the following year due to debt burden.<ref>{{cite news |last=Fujioka |first=Toru |url=https://www.bloomberg.com/news/2011-08-23/moody-s-lowers-japan-s-government-credit-rating-to-aa3-outlook-stable.html |title=Japan Unveils Billion to Fight Surging Yen as Moody's Lowers Rating |publisher=Bloomberg |date=24 August 2011 |access-date=10 November 2011}}</ref> In August 2011, the S&P downgraded the [[United States]]' [[credit rating]] from triple AAA to AA-plus following a [[United States debt-ceiling crisis of 2011|debt ceiling crisis]].<ref>{{cite news |url=https://www.reuters.com/article/us-usa-debt-downgrade-idUSTRE7746VF20110806 |publisher=Reuters |title=United States loses prized AAA credit rating from S&P |date=6 August 2011 |access-date=30 June 2017 |archive-date=24 September 2015 |archive-url=https://web.archive.org/web/20150924154539/http://www.reuters.com/article/2011/08/06/us-usa-debt-downgrade-idUSTRE7746VF20110806 |url-status=live}}</ref> Also in 2011, a [[The Gallup Organization|Gallup]] poll found that more than half of Americans believed the country was still in a recession.<ref>{{cite web |url=http://www.gallup.com/poll/147299/half-say-recession-depression.aspx |title=More Than Half Still Say U.S. Is in Recession or Depression |publisher=Gallup |date=28 April 2011 |access-date=10 November 2011}}</ref> In June 2015, the [[Shanghai Stock Exchange]] lost a third of the value of A-shares within one month, an event known as the [[2015–16 Chinese stock market turbulence]]. India became the fastest growing major economy of the world in 2015, surpassing China.<ref>{{cite news |url=http://www.dnaindia.com/money/report-india-clocks-75-growth-in-January-march-quarter-becomes-world-s-fastest-growing-economy-2090462 |title=India clocks 7.5% growth in January–March quarter, becomes world's fastest growing economy |work=Daily News & Analysis |date=29 May 2015 |access-date=6 March 2016}}</ref> In 2018, as the U.S. [[Federal Reserve]] raised interest rates, fears of a [[yield curve]] inversion preceding a potential U.S. recession sent inflation higher in several emerging markets, including [[Argentina]], where interest rates hit 40% and an [[International Monetary Fund]] bail out was issued.<ref>{{cite news |url=https://www.independent.co.uk/news/business/news/argentina-interest-rates-40-central-bank-latest-inflation-crisis-a8336436.html. |archive-url=https://ghostarchive.org/archive/20220501/https://www.independent.co.uk/news/business/news/argentina-interest-rates-40-central-bank-latest-inflation-crisis-a8336436.html. |archive-date=1 May 2022 |url-access=subscription |url-status=live |title=Argentina hikes interest rates to 40% amid inflation crisis |date=4 May 2018}}{{cbignore}}</ref> In 2019, [[Singapore]] supplanted the United States as the world's most competitive economy, with the U.S. dropping to third, behind [[Hong Kong]].<ref>{{cite news |url=https://www.foxbusiness.com/economy/worlds-most-competitive-economy |title=The US is no longer the world's most competitive economy |date=30 May 2019 |publisher=Fox Business |access-date=31 May 2019}}</ref>

Global oil production in 2014 reached a historic peak, reaching 93 million barrels/day.<ref>{{cite web |title=International Energy Statistics – EIA |url=https://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=5&pid=53&aid=1&syid=2010&eyid=2014&unit=TBPD |website=eia.gov |access-date=19 January 2016}}</ref> In 2018, partially due to a [[Shale gas in the United States#Shale gas production|shale boom]], the United States overcame [[Russia]] and [[Saudi Arabia]] in becoming the world's largest crude oil producer, the first time since 1973.<ref>{{cite news |url=https://money.cnn.com/2018/09/12/investing/us-oil-production-russia-saudi-arabia/index.html |title=America is now the world's largest oil producer |date=12 September 2018 |work=CNNBusiness |access-date=31 May 2019}}</ref> Around the year 2017 is a period seen by some economists as being the new peak of a "[[goldilocks economy]]".<ref>{{cite news |title=Economic optimism drives stockmarket highs |url=https://www.economist.com/blogs/buttonwood/2017/10/goldilocks-back |newspaper=[[The Economist]] |date=17 October 2017}}</ref> The International Monetary Fund's April 2019 World Economic Outlook stated, "After peaking at close to 4 percent in 2017, global [economic] growth remained strong, at 3.8 percent in the first half of 2018, but dropped to 3.2 percent in the second half of the year."<ref>{{cite news |url=https://www.imf.org/en/Publications/WEO/Issues/2019/03/28/world-economic-outlook-april-2019 |title=World Economic Outlook, April 2019: Growth Slowdown, Precarious Recovery |date=April 2019}}</ref>

In 2018, United States President [[Donald Trump]] announced he would put into place new [[tariff]]s on some Chinese products, starting the '[[China–United States trade war|US-China Trade War]]', an [[economic conflict]] involving the world's two largest economies. Trump said the reasoning for the trade war was to punish China for "unfair" trade practices, such as the appropriation of jobs and the theft of American [[intellectual property]]. China responded with tariffs of its own, and a cycle began, escalating the conflict. As part of his '[[America First (policy)|America First]]' policy, Trump also announced [[First Trump tariffs|new tariffs]] were being placed on countries around the world for various products such as steel and aluminium, which also drew some economic retaliation from traditional U.S. trade partners.

By the end of the decade, in [[Economy of North America|North American]] and some [[Economy of Europe|Western European]] domestic economies, consumer-level purchasing habits had shifted significantly, a partial consequence of the [[Great Recession]]'s impact on discretionary incomes and a shifting [[Breadwinner model#Decline of the male breadwinner|breadwinner model]]. The so-called "[[retail apocalypse]]" had commenced as consumers increasingly resorted to [[online shopping]] and [[e-commerce]], accelerating the decline of [[brick-and-mortar]] retail and the continued [[Dead mall|decline]] of [[Shopping mall|indoor shopping malls]]. The transitioning retail industry and popularity of online shopping facilitated economic phenomena such as [[bricks and clicks]] business models, [[pop-up retail|pop-up]] and [[non-store retailing]], [[drone delivery]] services, [[ghost restaurant]]s, and a quickly maturing [[online food ordering]] and [[Food delivery|delivery]] service sector.<ref>{{cite magazine |url=https://www.theatlantic.com/business/archive/2017/04/retail-meltdown-of-2017/522384/ |title=What in the World Is Causing the Retail Meltdown of 2017? |first=Derek |last=Thompson |date=10 April 2017 |magazine=[[The Atlantic]] |access-date=10 April 2017}}</ref><ref>Mark James, [https://target-help.com/retail-apocalypse/ Retail Apocalypse Online competition drives store closings] {{Webarchive|url=https://web.archive.org/web/20190209124317/https://target-help.com/retail-apocalypse/|date=9 February 2019}} ''[https://target-help.com/retail-apocalypse/]               '', 16 July 2018</ref> This was only further perpetuated by the rise in [[cryptocurrency]] throughout the decade, such as [[Bitcoin]]. By May 2018, over 1,800 cryptocurrency specifications existed.<ref name="FT05142018">{{cite news |last1=Badkar |first1=Mamta |title=Fed's Bullard: Cryptocurrencies creating 'non-uniform' currency in US |url=https://www.ft.com/content/29dcb760-5787-11e8-b8b2-d6ceb45fa9d0 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/29dcb760-5787-11e8-b8b2-d6ceb45fa9d0 |archive-date=10 December 2022 |url-access=subscription |newspaper=Financial Times |date=14 May 2018 |access-date=14 May 2018}}</ref>

In the same vein as cryptocurrency, the trend towards a [[cashless society]] continued as non-cash transactions and [[digital currency]] saw an increase in favourability in the 2010s. By 2016, only about 2 percent of the value transacted in [[Sweden]] was by cash, and only about 20 percent of retail transactions were in cash. Fewer than half of bank branches in the country conducted cash transactions.<ref>{{cite news |url=https://www.theguardian.com/business/2016/jun/04/sweden-cashless-society-cards-phone-apps-leading-europe |title=Sweden leads the race to become cashless society |first=Jon |last=Henley |newspaper=The Observer |date=4 June 2016 |via=theguardian.com}}</ref> A report published in 2019 suggested that the percentage of payments conducted in cash in the [[United Kingdom]] had fallen to 34% from 63% from 2009.<ref>{{Cite web |date=March 2019 |title=Access to Cash Review Final Report |url=https://www.accesstocash.org.uk/media/1087/final-report-final-web.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.accesstocash.org.uk/media/1087/final-report-final-web.pdf |archive-date=2022-10-09 |url-status=live |website=accesstocash.org.uk}}</ref> The 2016 United States User Consumer Survey Study claimed that 75 percent of respondents preferred a credit card or debit card as their payment method while only 11 percent of respondents preferred cash.<ref>{{Cite web |url=https://www.tsys.com/Assets/TSYS/downloads/rs_2016-us-consumer-payment-study.pdf |title=2016 User Consumer Study |access-date=31 May 2019 |archive-date=2 August 2019 |archive-url=https://web.archive.org/web/20190802004654/https://www.tsys.com/Assets/TSYS/downloads/rs_2016-us-consumer-payment-study.pdf |url-status=dead}}</ref>