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Beijing authorities plan rapid increases in economic stimulus spending in Guangdong to offset the downturn in exports here.
If they went to the limits they could almost but not quite offset the downturn we are forecasting".
Rocket industry officials say Lockheed Martin and Boeing are each seeking about $100 million in government aid to offset the downturn in business.
"No tour operator would admit it on record, but I've found that many that have focused on China are now selling more trips to south-east Asia to offset the downturn," says Graff. "They're diversifying to keep turnover up".
The Japan Air-lines System and All Nippon Airways secured 85 billion yen ($765 million) in loans from the Development Bank of Japan to offset the downturn in travel from the SARS virus and the war in Iraq.
He said "We've seen an explosion of real time data startups which has helped offset the downturn in Silicon Valley.
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Jerome Olive, Dacia's general manager, noted that the competitive cost of doing business in Romania was helping somewhat to offset the punishing downturn.
Tony Peder, the chief executive, said the company, which has announced large layoffs to offset the economic downturn, does not expect a turnaround until 2002.
Disputing another train of thought popular in Europe, Jacques Cailloux, head of euro area economic research for the Royal Bank of Scotland, said, "The E.C.B is wrong in its assessment that the emerging markets can offset the U.S. downturn".
But that is "help at the margin" and will not offset the cyclical downturn, Belchere said.
The spending will not likely occur fast enough to offset the global downturn nor be big enough to deliver a sustained boost to commodity producers, they add.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com