Without QE, which the Fed is now gradually tapering, world trade would have taken a much bigger hit.
1	Without	without	ADP	E	_	2	case	_	_
2	QE	QE	PROPN	SP	_	16	obl	_	SpaceAfter=No
3	,	,	PUNCT	FF	_	2	punct	_	_
4	which	which	PRON	PR	PronType=Rel	10	obj	_	_
5	the	the	DET	RD	Definite=Def|PronType=Art	6	det	_	_
6	Fed	FED	NOUN	S	Number=Sing	10	nsubj	_	_
7	is	be	AUX	VA	Mood=Ind|Number=Sing|Person=3|Tense=Pres|VerbForm=Fin	10	aux	_	_
8	now	now	ADV	B	_	10	advmod	_	_
9	gradually	gradually	ADV	B	_	10	advmod	_	_
10	tapering	taper	VERB	V	VerbForm=Ger	2	acl:relcl	_	SpaceAfter=No
11	,	,	PUNCT	FF	_	2	punct	_	_
12	world	world	NOUN	S	Number=Sing	13	nmod	_	_
13	trade	trade	NOUN	S	Number=Sing	16	nsubj	_	_
14	would	will	AUX	VM	Mood=Ind|Person=3|Tense=Past|VerbForm=Fin	16	aux	_	_
15	have	have	AUX	VA	VerbForm=Inf	16	aux	_	_
16	taken	take	VERB	V	Tense=Past|VerbForm=Part	0	root	_	_
17	a	a	DET	RI	Definite=Ind|Number=Sing|PronType=Art	20	det	_	_
18	much	much	ADV	B	_	19	advmod	_	_
19	bigger	bigger	ADJ	A	Degree=Cmp	20	amod	_	_
20	hit	hit	NOUN	S	Number=Sing	16	obj	_	SpaceAfter=No
21	.	.	PUNCT	FS	_	16	punct	_	_
