"Downturn severe despite some stabilizing" as headlines published in the Washington Post,March 27, 2009 on page D1 and D2
"The shelves are bare, so as soon as demand returns, you could see some real improvement," said Behravesh,chief economist of IHS Global Insight. "Businesses are really at the limit of how low thier inventories can go."
Another 652,000 Americans filed for unemployment insurance benefits for the first time last week, the Labor Department said.
As an economist with the US Department of Labor,I advocate training of the workers so that they can have a marketable skill to supply the new demand of American society in the 21st century to have economic recovery in the months to come. Such vision has been elaborated in "Keys for Economic Understanding" and such work is dedicated to USA and China as well.
Kurt Karl, chief US economist at Swiss Re said "We'll continue to see bad numbers from the labor market for some time until 2010."
WTO Director-General Pascal Lamy says increasing protectionism could undercut efforts to restore sustained growth globally."
Gary Hufbauer,senior fellow with the Peterson Institute for International Economics said:"A forceful statement against protectionism by the G20 next week is important, even if the couintries don't always abide by it.
I sent my blogs in the past with the same rationale months ago i.e. Law of Comparative Advantage should be understood and protectionism begets retaliation. Cf.www.Blogger.com for files on record.
Francis Shieh a.k.a. Xie Shihao on Friday,March 27, 2009 at 10.32