Monday, Dec 10, 2007
Decoupling dies as half the globe hits crunch
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/12/10/bcnambrose11.xml: Decoupling dies as half the globe hits crunch
The rising economies of Asia are too small and deformed to rescue world growth as America, Britain, Australia, and Club Med face their day of debt reckoning. China may make matters worse, not better.The seven pillars of global demand over the last year -- measured by current account deficits -- have been the United States ($793bn), Spain ($126bn), Britain ($87bn), Australian ($50bn) Italy ($48bn), Greece ($42bn), and Turkey ($34bn). Most are facing a housing bust. All are in trouble
Posted by chris @ 12:51 PM (169 views) Add Comment
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