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But when a large number of economies in the region are engulfed in balance sheet recessions at the same time, and if all of them must abide by the Maastricht limit, a fallacy of composition problem is created which will push the entire region into a deflationary spiral.
Locations include not just the traditional G7 economies, but areas such as Singapore, Latin America, Russia, Australia and India.
The word "globalization" describes processes of social change having any kind of international dimension: changing economies, power relations, communication, cultures, and organizations.
It was there, I suspect, that he was indoctrinated with the supply-side, anti-Keynesian economics that were supposed to have rescued the Western economies back in the Reagan/Thatcher era.
Obviously, Caspian energy resources are extremely important and give Kazakhstan an enormous advantage over other transition economies that lack natural resources.
WHY ECONOMIES GROW: The Forces That Shape Prosperity and How We Can Get Them Working Again by Jeffrey Madrick Basic Books, $26.
Bush's phrase, in a handy nutshell, seems to encompass the policy of neo-classical globalizing economies on the tireless search for growth and expansion.
The economies of Japan, South Korea, Thailand, Malaysia, and other countries of the region were expanding at rates that dwarfed those of the United States and the mostly European nations of the Organization for Economic Cooperation and Development (OECD).
Nonetheless, the Golden State economy shines over other states' eroding consumer confidence, declining capital spending and the effect of weak overseas economies.
Krugman explains how various countries with previously strong economies have gotten into a mess in the last few years, often prodded to so do by the International Monetary Fund.
If we can use those resources on a scale that won't destroy the landscape, and if we can make the local farm and forest economies as integrated and self-sustaining as possible, we could assure work to the maximum number of people.
In 1999, world growth is likely to be negative - and all Asian economies appear to be getting worse.

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