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It is too soon to tell just how deep the current decline will be.
Allard sees gambling as wholly integral to the current decline, and potential renaissance, of Californian racing.
What is remarkable about the current decline has been its relentlessness.
The Soviet Union rigorously policed the fishing grounds of the Caspian, but also sowed the seeds for the current decline.
One factor that may have contributed to the current decline is the impending deadline for paying 1999 income taxes.
Others, however, argue that the current decline is temporary, and that the industry has plenty of room to expand.
The current decline is also much larger than the 42.2percentt drop seen in October 1990 after Iraq invaded Kuwait.
As can be seen in the accompanying chart, the current decline came after a prolonged period of rapid growth.
The rally, he wrote, may be "too old for the current decline to be only a correction".
As a result, it is hard to know whether the current decline will continue or is just part of a long-term cycle of ups and downs.
If that stimulus works, he said, the current decline in trade could eventually appear as "a blip" in a picture of increasing world trade.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com