An American dream come true

Article Abstract:

The US has shown sustained economic growth throughout the 1990s, averaging 3% annually. Its robust economic performance is seen by economists as unusual because of its prolonged duration, being the longest-ever upswing in peaacetime history and about double the average length. This economic revolution is believed to be influenced by the growth of high technology industries such as the information technology sector. Because of the unusual length of upswing, pessimists believe that this speed of growth cannot be sustained by the US market for long. They are confident that stability of the US economy will soon falter driven by the rising balance of payments deficit and increasing consumer spending that has turned personal saving ratio negative. Because of these speculations, the US Federal Reserve decided to raise interest rates to slow down economic growth.

Administration of Urban Planning and Community and Rural Development, Economic Development NEC, United States, Laws, regulations and rules, Economic development, United States. Federal Reserve Board, Economic forecasting

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Why the Japanese dominate

Article Abstract:

The reasons for the increasing Japanese dominance of international manufacturing are discussed. The reasons often given for the decline of US and British firms relative to Japanese competition, such as the preponderance of accountants in industrial management, or the use of the discounted cash flow by Japanese accountants, do not fully explain the success of the Japanese. A more plausible reason is that Japanese corporations face lower hurdles to new projects than US or British firms. Japanese corporations are more likely to take risks, and so are more likely to develop new technologies and new markets, while US and British firms are more likely to take defensive, cost-cutting measures.

Manufacturing industry, Manufacturing industries, Japan, Finance, Accounting and auditing, Accounting, Corporations, Corporations, Japanese

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Not enough savings for a rainy day

Article Abstract:

The economic outlook for the US and the UK in 2001 is discussed, with focus on how the low savings ratio in the US will worsen the effects of an economic downturn, but the higher ratio in the UK will help the economy.

Savings

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