Don't expect war to spare us from the ravages of recession

Article Abstract:

It is clear that there will be a general world recession in autumn and winter 2001. It will not be possible to prevent this through expenditure on military action against Afghanistan. The timing and strength of the economic recovery will be influenced by the success of the military spending, rather than by the spending itself.

Economic aspects, International aspects, Recessions, War, War economy

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Even the healthiest economy is not immune to a dose of tiger flu

Article Abstract:

The general health of the world economy is worse now than it has been at any time since the early 1980s. The US economy itself remains strong, but observers in the US are beginning to realize that their country is vulnerable to economic developments elsewhere in the world. The recession in Japan has raised fears about whether similar developments could take place in the US. Furthermore, there are uncertainties about where global demand will come from in the near future.

Administration of Urban Planning and Community and Rural Development, Economic Development NEC, Economic development

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When the banks get worried, politicians start to panic

Article Abstract:

Bankers around the world have suddenly become very frightened about the possibility of a world economic crisis. This fear is being transmitted to finance ministries, where politicians are beginning to realize that they may have to take the responsibility for economic disaster. It is widely assumed, both in the UK and the US, that reducing interest rates will ensure that the world economy does not enter recession. This view is being encouraged by the fact that many politicians are calling for interest rate cuts. However, the reality is that lower interest rates will not necessarily bring a solution.

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