COMMENTS:
Voted : No
I think that China, despite the bad press they've been getting lately, will pick up the slack.
i'm not so sure about that --
Economic Growth Is Strongest in a Year
Friday July 27, 10:20 am ET
By Jeannine Aversa, AP Economics Writer
Economy Springs Out of Rut and Grows at 3.4 Percent Pace, Best Showing in More Than a Year
WASHINGTON (AP) -- The economy snapped out of a lethargic spell and grew at a 3.4 percent pace in the second quarter, the strongest showing in more than a year. A revival in business spending was a main force behind the energized performance.
The second quarter's performance was better than the 3.2 percent growth rate economists were expecting. It was the strongest showing since the first quarter of 2006, when the economy expanded at a brisk 4.8 percent annual rate.
Businesses, meanwhile, regained their appetite to spend and invest in the second quarter.
They boosted their spending on new plants, buildings and other commercial construction at a whopping 22.1 percent rate, the most in 13 years. Investment on equipment and software posted a 2.3 percent growth rate, an improvement from a meager 0.3 percent growth rate in the first quarter.
truth, china can't pick up the slack cuz china's economy is totally reliant on the west. namely western companies who put their factories in china build products there -- if there is a world recession people stop buying goods so companines scale back production and it becomes a viscious cycle. read a book on china called something like "frail superpower" or something along those lines. china has a weak domestic market -- one of the huge risks of making things for other people is that you own none of it and just make it. chian is probably the most vunerable.
time will tell, i bet you a nickle the recession will hit in one year, then Canada in 2 years
by ABC on Fri Jul 27, 07 2:47pm
[+]
^ wow, i bet you're the life of the party, aren't you casandra? 
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