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Global Economy: Asia-Pacific

1-2 paragraphs each.

A study of the global economic impact of the 2008-2009 recession on the global economy conducted by the Economic Policy Institute (http://www.epi.org/) has shown that as of January 2010 the United States economy shrunk 5 percent compared to the pre-recession period. At the same time, the Asia-Pacific region grew by 14 percent.

What are the reasons for the decline of the U.S. economy and the growth of Asia-Pacific?

What consequences does this have for the global balance of power?

What do you think should the U.S. Government, businesses and the labor unions do to reverse this trend?

Solution Preview

There are many answers to your question, what I write there is simply my opinion, and you should use it as a guide to formulate your own thoughts.

1. What are the reasons for the decline of the U.S. economy and the growth of Asia-Pacific?

The primary reason I think is because the U.S. economy is a developed one and most Asian countries are developing still. In general (not particular to the 08-09 recession), Asian countries (in particular China) experience a 10%+ annual GDP growth, while developed countries (US Canada England etc.) only experience a 3% GDP growth. Having this said, you should expect higher gdp growth in Asian countries even in times of recession.

In particular to the recession, the ...

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