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As its exports stumble, Asia faces a nasty cyclical downturn.
But this is not a standard cyclical downturn.
What might have been an ordinary cyclical downturn was turned into a cataclysm by bad politics.
This is not a cyclical downturn; thermal coal is in structural decline.
Central banks can play an important role in a cyclical downturn.
This means the improvement in these indicators is a result of a cyclical downturn in Europe, rather than structural improvements.
A cyclical downturn is a good time to invest in human capital, as well as physical infrastructure.
The real crisis will be in five years' time when the world economy hits its next cyclical downturn.
The scale of the deterioration in revenues is much bigger than you would expect from a cyclical downturn.
And if you look at real GDP, this looks very much like a temporary (if prolonged) cyclical downturn.
Nancy Pelosi, at lunch, was making the point that this latest recession was not a typical cyclical downturn.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com