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When the bubble burst, demand collapsed.
As demand collapsed the take-or-pay clauses became more onerous.
As demand collapsed, businesses slashed payrolls and reduced wages, and a ruinous period of deflation began.
Demand collapsed as the credit machine ground to a halt and getting the economy going again has proved mightily difficult.
The reason demand collapsed, argues Ms Murayama, is that the arithmetic no longer matters as much to potential homebuyers, who are increasingly worried about their future.
Vineyard acreage rose by a third in 1997-2002.Then the recession hit and demand collapsed, just as the new vineyards started to produce viable grapes.
Similar(45)
Or that when consumer demand collapses, it is good for public demand to do likewise?
But if demand collapses, if nobody is willing to pay more then 20$ an iPad and uses newspaper instead, then we still can mine what we have.
WHEN demand collapses in an economy, the governments of rich countries can try to compensate by spending more of their own money.
In the summer, however, with demand collapsing (jeweler demand for gold fell 24% in the second quarter alone), gold prices began to deflate, and by August gold futures had given up all of the year's accumulated gains.
In 2008, with world demand collapsing and the threat of protectionism heightened, the G20 came together to deliver coordinated policy action that successfully avoided the onset of a deeper and more prolonged global recession.
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