For the first time since World War II, global output will drop (-1.7%); per capita income will fall in more than 50 developing countries; net private capital flows will likely turn negative a more than $700 billion drop from the 2007 peak; and trade is expected to decline by 6.1% in 2009 the worst decline in 80 years. In response to this global downturn, a number of governments have passed stimulus packages and other measures that aim to preserve domestic industries and jobs, and sometimes discriminate against foreign producers (e.g. buy local laws). The most recent forecasts announce a...
For the first time since World War II, global output will drop (-1.7%); per capita income will fall in more than 50 developing countries; net private ...
