Deflation Doldrums?

Monsoon belly out to enter the doldrums.

Despite its two decades of economic malaise, Japan remains the world s third largest economy, and will grow by about 2 this year and 1.5 in 2013. Given the economic doldrums in which the world finds itself, that may not seem so bad.

Europe s largest economy, Germany, is now going into the doldrums. The Ifo Business Climate index, which, though based on a survey for Germany, is regarded as Europe s most important economic activity indicator, has been falling with few interruptions since the autumn of last year.

NEW YORK One way to look at the growing military tensions over a few tiny islands in the East China Sea is to see in recent events a straightforward case of power politics. China is rising, Japan is in the economic doldrums, and the Korean peninsula remains divided.

The unwinding of the US economy might even begin in 2006, particularly if Japan continues to grow out of its doldrums, the US housing market softens dramatically, and Europe s economic recovery accelerates. Individually, these are each highly plausible scenarios, and collectively they would hit the US trade deficit like a perfect storm.

Without a strategy for growth, which includes efforts to reduce government expenditures and a policy to stop deflation, Japan s economy will remain in the doldrums. But Kan still seems unwilling to focus on growth.

Second, they could continue to rely on conventional monetary and fiscal policy to pull the economy out of the doldrums. This is the approach still preferred by the Obama administration, despite its poor performance.

He even has his own development strategy, dubbed Thaksinomics, a self styled approach that blends neo liberal export led growth with grassroots based domestic demand. The Thai economy emerged out of its post 1997 crisis doldrums under Thaksin s watch, and is now firmly positioned on a 6 annual growth trajectory.

Although European Union leaders have managed to keep the eurozone intact, they lack a long term strategy to lift their economies out of the doldrums. The seriousness of Europe s situation is reflected in growing acceptance of the high unemployment and youth unemployment rates of over 50 that some EU countries, including Spain and Greece, now face.

In response, China s central bank is lowering interest rates to spur domestic investment, and the resulting depreciation of the renminbi s exchange rate has helped to keep exports afloat. But China s import figures for the first half of this year have virtually flat lined, suggesting that Chinese firms are not investing in new equipment and thus that China s economy may hit the doldrums soon.

ECONOMIC

Economic

International Economic Law (a) Standards of international economic law

Despite continuing economic recovery, economic fundamentals remain, however, inadequate.

Economic participation allowing full and significant economic participation, offering economic opportunities to a maximum number of people

ECONOMIC ASSISTANCE SPECIAL ECONOMIC ASSISTANCE TO INDIVIDUAL COUNTRIES OR REGIONS

Economic Commission for Africa (ECA) Economic Commission for Europe (ECE)

Economic Commission

Economic exploitation

Economic Development

Economic recovery

Economic recovery

Economic recovery

Economic sustainment

Economic analysis

Economic policy

Economic developments

Economic status

Economic empowerment

Economic census

Economic Commission

Economic development

Economic instruments

Economic management

ECONOMIC ASSISTANCE

These are grim economic times, fellow TEDsters, grim economic times indeed.

including special economic assistance special economic assistance to individual countries or

economic development and socio economic and environment priorities and strategies (C)

special economic assistance special economic assistance to individual countries or regions

Dr. Jackson Karunasekera Chief Economic Officer Economic Affairs Division Commonwealth Secretariat

(c) Improving availability of socio economic information on vulnerable populations and economic sectors and on the economic impacts of climate change

The Economic and Social Commission for Asia and the Pacific, with the Economic Commission for Africa, the Economic Commission for Europe, the Economic Commission for Latin America and the Caribbean and the Economic and Social Commission for Western Asia ( 800,000)

The expansion of economic globalization has further complicated economic and social problems.

Reports considered by the Economic and Social Council under special economic, humanitarian