Developed countries recovery “rests on growth in Asia and Latinamerica”

Thursday, October 22nd 2009 - 08:10 UTC

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The economic recovery of developed countries, including the United States, rests largely on the growth of developing Asian and Latin American countries, the chief economist of Spanish banking group BBVA said this week. Read full article

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Tim
This is a rather interesting analysis, although nothing surprizing for those who have been following the impact of the “global” recession on South America. What is very sad, however, is how the Obama administration continues to miss the boat on this. The White House is still babbling about giving more chump change to the poor and senior citizens (a $250 stimulus check), subsidized credit to small businesses that hire more workers, etc.. A real boost to the U.S. economy would be increasing exports, however. Given that South America is one of the few places in the world that will have the money to buy what the US is offering, when is the Obama administation going to revive the negotiations for a Free Trade Area of the Americas?
Oct 22nd, 2009 - 01:02 pm - Link - Report abuse 0
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