More evidence that the US (and therefore, GLOBAL) economy still has a long way to go before it recovers. ATTN: CHINA
For America, yes.
Times have changed though.
Australia is a prime example. In previous recessions, if the US coughed, we got a cold. Now with China (and to a lesser degree India) expanding rapidly, the resource sector links Australia with Asia and the US is increasing insignificant.
Australia avoided recession and is posting quarterly growth consistantly. Commodity demand from China has already picked up.
The US will stagnate but the Dragon juggernaut will keep on rolling on. Here comes the New World Order.
I'm confussed over here in England. One minute they say the recession is over, the next it's about to get worse. I don't really know anyone suffering from it apart from my lad who can't get a job, but hey he is lazy and at college. I think the UK is in limbo waiting to see the outcome of everyone else.
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