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12/21/2008-- The theory of Asia ‘decoupling’ from the world recession is disproved, as China’s economy is rapidly slowing, with millions of jobs lost and a review pending on its export-led strategy.

WHAT a difference a few months make! When the US sub-prime mortgage crisis was evolving, many analysts theorized that Asian economies were “decoupled” from the Western economies, and would continue their strong growth, especially with China pulling the rest along.

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