Now it looks like Asia, the guiding light of the post-recession world, is hitting speed bumps as well. What does that mean for the world economy? It's just more evidence that the entire global recovery may be running out of steam. Even mighty China isn't immune from the gloom.
Asia has been one of the primary engines of the worldwide rebound. If that engine cools down, even a bit, that will act as yet another drag on what is already an uninspiring global recovery. Add in the impact of misguided austerity measures and continued high unemployment, and this fragile recovery may not look like much of a recovery at all.
Monday, July 5, 2010
Posted by Michael Schuman at Time: