Re: [Pen-l] How global is the global recession?

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] How global is the global recession?
From: Alejandro Valle Baeza <valle@xxxxxxxxxxxxxxxx>
Date: Tue, 14 Apr 2009 13:44:12 -0500
User-agent: Thunderbird 2.0.0.21 (Windows/20090302)

"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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Thread context:
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- Re: [Pen-l] How global is the global recession?, Alejandro Valle Baeza Tue 14 Apr 2009, 18:13 GMT
  - Re: [Pen-l] How global is the global recession?, michael perelman Tue 14 Apr 2009, 23:56 GMT
    - Re: [Pen-l] How global is the global recession?, Alejandro Valle Baeza Wed 15 Apr 2009, 18:58 GMT
      
      Re: [Pen-l] How global is the global recession?, Michael Perelman Wed 15 Apr 2009, 22:27 GMT
- [Pen-l] Oblivion, Louis Proyect Tue 14 Apr 2009, 16:02 GMT

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