Tuesday, Jan 13, 2009
The rising economies of Asia are too small and deformed to rescue world growth as America, Britain,
times: Decoupling dies as half the globe hits crunch
The seven pillars of global demand over the last year - measured by current account deficits - have been the United States ($793bn) (£388bn), 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 @ 10:18 AM (281 views) Add Comment
2 Comments
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1. bellwether said...
Along with the UK's miracle econonmy, house prices only going up, the Euro becoming the worlds reserve currency, oil reaching $200 a barrel and staying there, the decoupling myth that China were poised to take over as the worlds leading economy has got to be one of the most flawed.
2. Ian Randall said...
This article is over a year old...