The Federal Republic of Germany is presently experiencing the deepest and longest recession in its history. The situation is characterised by high and rising unemployment figures, slowing growth, a steep increase in the number of bankruptcies in the business sector as well as by a rapidly rising...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.

In recent weeks, fears of a worldwide economic recession have become widespread because more and more symptoms appear that resemble those at the start of the great depression of 1929. However, wrong conclusions may be drawn from similar symptoms unless basic development trends as well as the...