Artikel van Walden Bello op website TNI:

As the U.S. and Europe appear to be headed for a deeper economic crisis, some analysts discern a “decoupling” of East Asia and other developing areas from the western economies.

In contrast to their cautiously optimistic forecasts about a sustained recovery at the end of 2009, the dominant mood in liberal economic circles as 2010 draws to a close is gloom, if not doom. Fiscal hawks have gained the upper hand in the policy struggle in the United States and Europe, to the alarm of spending advocates like Nobel laureate Paul Krugman and Financial Times columnist Martin Wolf who see budgetary tightening as a surefire prescription for killing the hesitant recovery in the center economies.

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