"The effects of the international crisis will impact the region harshly
this year, said *ECLAC* Executive Secretary *Alicia Bárcena* during the
/Latin America Emerging Markets Forum 2009/ which opened today (April
1th) in Bogotá, Colombia.
Those worst hit will be Mexico, (-2.0%), Brazil (-1.0%), Costa Rica
(-0.5%) and Paraguay (-0.5%), while Panama, Peru, Cuba and Bolivia will
maintain positive growth of 3.0% or over. Ecuador and Chile will
experience zero growth during 2009, says *ECLAC*.
The negative effects of the crisis are reflected in declining
international trade and falling commodity prices, with which the
region's terms of trade will decrease 15%. There will also be a sharp
drop in exports -particularly affecting countries with open economies
such as Central American nations and Mexico-, lower remittances, less
tourism-related income -especially in the Caribbean and Central
America-, and diminishing flows of foreign direct investment."
Full article at:
http://www.cepal.org/cgi-bin/getProd.asp?xml=/prensa/noticias/comunicados/4/35634/P35634.xml&xsl=/prensa/tpl-i/p6f.xsl&base=/tpl-i/top-bottom.xsl
Gernot Koehler wrote: When I have a toothache, the whole world is in
pain - or so it may seem. I was wondering: How global is the global
recession?
I examined the following source, which has simple country-by-country
information for the G20 countries, starting with a picture of Christine
Kirchner of Argentina. For each country you find a yes-no coding for the
question: Is this country in recession? - yes-no.
Source: CNN Explainer 01apr09 G20 recessions
RESULT:
Recession = YES: Australia, Canada, EU, France, Germany, Italy, Japan,
Russia, UK, USA
Recession = NO: Argentina, Brazil, China, India, Indonesia, Mexico,
Saudi Arabia, South Africa, South Korea Turkey
Thus the global recession is not global in scope. However, global
aggregate figures show a global recession because the indicators for the
core countries (imperialist countries, as Samir Amin would say) dominate
the aggregates.
Gernot
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