Word: aftermath
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...world tries to talk itself out of the worst recession since the end of World War II. The good news is that there is a slowing in the rate of deterioration in the global economy. The tougher news is that this is hardly surprising. In the aftermath of unprecedented annualized plunges in real global GDP on the order of 6% to 7% in the fourth quarter of 2008 and the first quarter of 2009, the pace of deterioration almost had to moderate...
...Little wonder that in the aftermath of a record contraction in U.S. consumer spending in late 2008 - 4% average annualized declines in the final two quarters of the year in real terms - every major economy in Asia either slowed sharply or tumbled into deep recession. More than ever, the region's fate remains made in America...
...export-led China doesn't get a kick from the American consumer, a relapse for China-dependent Asia is a distinct possibility next year. Don't be fooled by catchphrases such as "green shoots" and the "Asia century." In the aftermath of the modern world's worst financial crisis and recession, an Asian-led global healing remains a real stretch...
...that have been China's biggest boosters are not the powers they were two years ago. And in China, the troubles of the U.S. financial system have led to a growing mistrust of U.S. intentions and the American form of capitalism. The love affair was strange and overdone. The aftermath could be ugly...
...Arab world, this is - or rather should be - a profoundly important point. Not a single Arab state has been able to build a sustained economic success in the aftermath of colonialism. (And I include in this indictment mini-states such as Dubai, impressive though they may be, whose recent prosperity seems much too much dependent on a real estate bubble.) In two generations, by contrast, Japan and South Korea, developed two of the world's most vibrant, innovative economies out of the ashes of truly devastating wars. On the foundation of successful economies, both built a superstructure of robust democratic...