With their deep integration with the world economy, their reliance on exports and their huge foreign-exchange reserves held mostly in dollars, Asian countries know they cannot escape the consequences of a recession in the West.But while they are right to eschew regional gloating, flopping around in an unproductive, unco-ordinated fashion is surely taking ineffectiveness a step too far.
In committing the Fed to buying tens of billions of dollars worth of mortgage bonds every month until the jobless rate, currently 8.1percentnt, falls markedly, Bernanke and his colleagues on the Fed's policy-making committee have finally demonstrated that they won't stand aside as tens of millions of Americans suffer the harsh consequences of a recession that was largely made on Wall Street.
WEEK IN REVIEW, PAGE 8 Op-Ed NICHOLAS D. KRISTOF It is natural in an economic crisis to look inward, to focus on America's own needs, but it is worth remembering that in a poor country like Haiti, the consequence of a deep recession isn't just a lost job, but sometimes a lost child.
In Sweden, the change started in the 1990s as a consequence of the recession and, for the first time during a long period, a strained health care budget [ 39].
That is partly a tribute to Mr Uribe's success, and partly a consequence of gathering recession.
May's borrowing figure will be impacted by a lack of tax receipts, which analysts said was a consequence of the recession and sluggish economic recovery.
Obviously the real relationship is the other way around: the deficit is largely a consequence of the recession.
The dramatic climb in budget deficit from there to the average of 10.7% in 2009-2010 was mostly a consequence of the recession caused by the financial crisis.
Total Medicaid spending, for example, will rise this year, to $48.6 billion from $45.3 billion, though some of that increase has come from new people joining the Medicaid rolls as a consequence of the recession.
After the oil crisis of 1973, the economic viability of the program was not as favorable for the road transport as it was before and as a consequence of economic recession, the realization of the Transport Policy Concept was slowed down.
