1945

All three engines of the global economy, especially the euro zone, slowed in 2012, sapping a recovery that was already the slowest in 40 years. The crisis is deepening in the euro zone, after five quarters of growth close to 0%. This is having a direct impact on the United States and China, for both of which the European Union was the largest export market in 2011. The United States is in a period of slow, vulnerable growth. Despite massive revitalization programmes, the recovery is proving to be the slowest of the entire post-war period. As a result China’s exports are faltering too, and its demand for raw materials imports is slackening.

Related Subject(s): Economic and Social Development
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