So much of the shouting about this economic “downturn” centers on the United States of America. I’m no economist (thank, God!), but it seems to make sense that the epicenter of the econoquake is the USA.
Still . . .
What about other countries? Like:
China, Malaysia, Bangladesh, Cambodia, Taiwan (ROC), Philippines, Romania, Russia, Kazakhstan, Mongolia, Brazil, Antigua and Barbuda, Barbados, Jamaica, Trinidad & Tobago, U.S.A., Iceland, and Australia.
One of my constant companions on the Internet Journey is Global Voices. In a recent article, they rely on their global network of bloggers to identify these issues:
“…Jamaica’s dollar-earning bauxite industry has shed hundreds of jobs already because of the downturn in US car production.”
In Bangladesh, the housing bubble is tied to remittances sent by Bangladeshis working in other countries; but, mass layoffs in the US and Europe is ending their property boom.
“Cambodia is also experiencing a property bubble. South Koreans are Cambodia’s biggest investors. Since South Korean businesses have been badly hit by the financial crisis, many of them have already pulled off their real estate investments in Cambodia.”
The Caribbean financial crisis originated, partly, from drops in methanol and real estate prices.