1. Home
  2. News & Issues
  3. World News
photo of Bridget Johnson
Bridget's World News Blog

By Bridget Johnson, About.com Guide to World News

Places With Worse Economies Than the U.S.

Sunday July 12, 2009
An interesting ranking from U.S. News and World Report based on the International Monetary Fund's economic output projections for the rest of the year and 2010:

"The IMF expects at least 11 major parts of the world to have more severe economic contractions than the United State this year, including most of western Europe, Japan, Russia, and Mexico. Europe will still be stumbling along behind the United States next year, as well.

...If these projections come true, it means the United States, despite its overspent consumers, wrecked banks, and insolvent automakers, will be leading the world economy out of recession. Somehow. The developing world will help, but those high growth projections in China and India can be deceiving. China in particular has government policies that practically mandate high growth, and 8.5 percent in 2010 would be just about the bare minimum to keep employment at tolerable levels. And neither China nor India is a major buyer of American-made goods and services; for the most part, it's the other way around. With much of the developed world trailing the United States, it will take American consumers to ratchet up demand for the world's products. Scary thought."

See the whole chart here.

Comments

No comments yet. Leave a Comment

Leave a Comment

Line and paragraph breaks are automatic. Some HTML allowed: <a href="" title="">, <b>, <i>, <strike>

Discuss
Community Forum
Explore World News
About.com Special Features

Sure, we're all talking about it, but what, exactly, defines a recession? More >

A daily look at some of the oddest (and dumbest) crimes around. More >

  1. Home
  2. News & Issues
  3. World News

©2009 About.com, a part of The New York Times Company.

All rights reserved.