http://www.chicagotribune.com/business/chi-070905-economy-un,0,127580.storyMeanwhile, as corporate leaders say "The dollar is going to go down!", remember who's helping contribute to it. It's not rocket science to predict the Dollar will go down when you take Dollar-centric jobs to countries that run in other currencies.
Hampton,Va.(HFR:GENEVA) - The U.S. economy will slow sharply this year and fall behind growth rates in most of the world, according to forecasts in a U.N. report released Wednesday.
Woes in the housing market will drag U.S. gross domestic product for 2007 to a modest 2 percent growth, compared with 3.3 percent last year, the U.N. Conference on Trade and Development said in its flagship annual report.
For the first time since 2001, both the European Union, at 2.8 percent, and Japan, 2.3 percent, are predicted to have higher GDP growth than the United States.
China, at 10.5 percent, and India, 8.5 percent, should experience economic growth rates similar to the last three years, the report said.
Global growth, meanwhile, is pegged at 3.4 percent, down from 4 percent in 2006, largely because of the U.S. slowdown, the report said.
For now, the world economy is going through a "golden period," Supachai Panitchpakdi, the former World Trade Organization chief now heading the U.N. agency, told reporters in Geneva.
Article has more.
Good for the world; they're helping their starving masses. Why is the US increasingly being left out?
The global economy may be in a 'golden period', but more Americans are feeling a golden shower as part of the process.
And if Americans can no longer spend on goods, that isn't going to help the rest of the global economy at all. :(
If
more jobs come back to the US, I suspect the problems will start to alleviate.
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
