Macroeconomics

During the past two weeks, analysts’ views have changed a bit. Various publications are saying that the financial crisis has already tipped the balance of economic power further in favour of the East.

Despite all the positive news about better order books and industrial production in many of the old economies, we have only really seen an end to the descent so far. Even if economies are not shrinking anymore their recovery is far from being strong enough to offset the declines we saw during the last four quarters.

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