Nowhere to hide: Global economic troubles spread from Europe and US to China, India and Brazil |
| Washington Post - Jul 22, 2012 |
The global economy is in the worst shape since the dark days of 2009.
Six of the 17 countries that use the euro currency are in recession. The U.S. economy is struggling again. And the economic superstars of the developing world — China, India and Brazil — are in no position to come to the rescue. They’re slowing, too.
Economies around the world have never been so tightly linked — which means that as one region weakens, others do, too. That’s why Europe’s slowdown is hurting factories in China. And why those Chinese factories are buying less iron ore from Brazil.
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- Posted: 2012-07-22 05:58:02
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