EU slashes economic growth forecast

Washington Post,Sept. 11, 2008 on page D7:
Brussels - The European Union said that it expects a sharper than expected slowdown in its economy for 2008 because of persistent high inflation, falling real estate values in some countries and the turmoil in financial markets. My comment: Globalizatin is in process for negative retreat of the economies. In the US scene,there is implosion causing repercussions with impact in other nations as explosion as I sent my previous blogs for your reference. Please check the archives.
Page D5: In the US scene, Many Wall Street observers contend that the stock market will not be able to carve out a sustained recovery until investors can determine the scale of losses in the financial sector. Global banks have written off more than $300 billion in bad investments. The books that I recommended in the previous blog would be useful reference for in-depth analysis in light of the current events in economics. Needless to say, such impact affects China re Sino-American Economics.

Francis Shieh a.k.a. Xie Shihao on 9-11-08 for national grief with added concern about the state of the economy. Let us find out on Nov.4, 2008 apropos of the will of the Americans for Presidential election. At 10.30 a.m. in Maryland, USA.