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Introduction: Coping With the Global Recession |
| Section: CURRENT ISSUES / SPECIAL REPORT--COPING WITH THE GLOBAL RECESSION |
| Author: Editor |
| Publication:
The World & I Online |
| Issue Date: 1/1/2002 |
| Size: 1,065 Words, 6,685 Characters |
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SPECIAL REPORT INTRODUCTION
Even before the terrorist events of September 11, the economic facts were indisputable: America's GDP growth had slumped to its lowest rate in a decade, Japan's GDP had fallen for a second consecutive quarter, Germany's economy was stagnant. Mexico and Singapore, at opposite ends of the globe, conceded they were in recession. Global industrial production fell at a annual rate of 6 percent in the first half of 2001.
The destruction of the World Trade Center, a leading symbol of the global market, sent economic shock waves around the world. When it reopened, the New York Stock Exchange plunged nearly 700 points. Other...
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...ations. The prime minister's biggest challenge, says Hwang, may be breaking the LDP's longtime reliance on political support from unproductive industries such as the postal service, construction, and the small retail sector.
Second only to the United States in economic power, Japan must find a way out of its economic slumber, not only for its own future but that of the world.
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Publication Details
(The World & I Online) |
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The World & I Online is a
comprehensive academic resource that encompasses a broad range of
articles by scholars and experts in the areas of Global Studies,
Liberal Arts, Fine & Applied Arts, General Science, and Spanish.
Originally published monthly in print as The World & I, our site
includes the complete contents since 1986 and continues to publish
a new issue online each month. |
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