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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?

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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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