As the U.S. remains the epicenter of the global economic crisis, a shell-shocked world begins a new year with a somber outlook, according to a new report from MAPI.
In the MAPI Quarterly Forecast of U.S. Exports, Global Growth, and the Dollar: First Quarter 2009 Through Fourth Quarter 2009, economist Cliff Waldman writes that data and forecasts through the end of 2008 reveal the bleakest global outlook in the post World War II era.
The depth of the U.S. economic downturn and financial disruptions which have spread globally have created a nearly synchronized slump in industrialized country output, Waldman said. “In addition, recent data reveal an eroding picture for the emerging world, in sharp contrast to the mixed prospects that were expected …
