Rolf Englund IntCom internetional
"Iit looks like it is going to be an L – not a V or a U"
The forthcoming Group of 20 summit is going to be a disaster.
In a V-type recession, the recovery is instant. In a U-type, it comes eventually.
History never repeats itself exactly, but we know from economic history that financial crises are surprisingly similar.
Martin Feldstein, a former economic adviser to Ronald Reagan and president of the National Bureau of Economic Research,
In that period, the US current-account deficit will fall sharply, as will that of the UK, Spain and several central and eastern European countries.
The bulk of the adjustment would be borne by the world’s largest exporters: Germany, China and Japan.
Globally, current-account deficits and surpluses add up to zero – minus some statistical reporting errors. You can do the maths.
If the US stops buying German cars, Germany will eventually stop making them.
Kan man undvika recession i USA när man måste minska importen med 600 miljarder dollar?