Can we survive another Asian shock?
Article Abstract:
Observers who predict that a further decline in Asia's economy will have a negative impact on the strength of final demand in the US and the European Union are probably being too pessimistic. The OECD economies have now absorbed a large part of the initial Asian crisis, and this crisis has not been the dominant force influencing the pattern of GDP growth in the leading economies since mid-1997. A second Asian slump would probably not be sufficient to push the OECD economies into recession.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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World must rely on Federal Reserve
Article Abstract:
It is now time for the world's leading central banks to consider acting in a coordinated way to ease monetary conditions. If they are unwilling to do so, then the Federal Reserve or the European Central Bank must take decisive action independently. It seems that the European Central Bank is unlikely to react in this way, so all hopes are now pinned on the Federal Reserve. It is now vital that the world's central bankers regard the world economy as a single entity.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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