http://www.financemarkets.co.uk/2009/11/13/asia-leading-world-out-of-economic-downturn%e2%80%99/ Finance News | UK Personal Financial News & Daily Finance Market News Mon, 14 May 2012 17:44:18 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://www.financemarkets.co.uk/2009/11/13/asia-leading-world-out-of-economic-downturn%e2%80%99/comment-page-1/#comment-9776 MPO Sat, 14 Nov 2009 11:48:43 +0000 http://www.financemarkets.co.uk/?p=14689#comment-9776 The IMF says the U.S. is projected to grow 1.5% versus a 2.75% for Asia. Given the size of America's economy, and the skewingly high growth rate of China in Asia and China's lack of consumer demand, it's clear that (if these projections are roughly correct) we're looking at a return to the same pattern whereby the U.S. is importing the goods Asia makes, and China is importing commodities and 'parts' from other Asian nations to make those goods to sell to the United States. That's hardly leading the world out of a downturn, and if U.S. consumption of imports does not rebound there will be no sustainable rebound in Asia, either. This meme that the developing nations are now on top is growing less and less rational and more and more hyperbolic by the week. The IMF says the U.S. is projected to grow 1.5% versus a 2.75% for Asia. Given the size of America’s economy, and the skewingly high growth rate of China in Asia and China’s lack of consumer demand, it’s clear that (if these projections are roughly correct) we’re looking at a return to the same pattern whereby the U.S. is importing the goods Asia makes, and China is importing commodities and ‘parts’ from other Asian nations to make those goods to sell to the United States. That’s hardly leading the world out of a downturn, and if U.S. consumption of imports does not rebound there will be no sustainable rebound in Asia, either. This meme that the developing nations are now on top is growing less and less rational and more and more hyperbolic by the week.

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