From U.S. recession to Global recession. . .
The U.S. economy may already be in recession; other countries might not be far behind.
Japan, Britain, Spain and Singapore, which together represent about 12 percent of the world economy, are vulnerable as fallout from the U.S. worsens their economic weakness. Even emerging markets, including China, are likely to suffer as exports to the U.S. wane.
It’s “highly likely” Japan is already in a recession or will enter one this quarter, Tetsufumi Yamakawa, chief Japan economist at Goldman in Tokyo, wrote in a report published today.
» Global Recession Risk Grows as U.S. `Damage’ Spreads (Update1) – Bloomberg, 28th January 2008