With the turmoil on the international financial markets calming down, signs of an incipient recovery can be seen in those economies that had been hit worst. The enormous drain of capital from the emerging markets has been stopped or even reversed in some cases, especially in the developing and...

The outlook for the world economy has brightened noticeably. The situation in Asia, Russia and Latin America remains unstable, but economic growth continues at a high level, at least for the time being, in the USA, and the economic recovery is gaining momentum in Europe. If the forces...

The international business cycle is still heading downward. The expected recovery in the U. S. has not yet opt underway. Growth has decelerated markedly in Japan, a number of European countries are in recession (Finland, U. K., Sweden, Switzerland). Countries benefitting directly or indirectly...