Submitted by YOUR NEW REALITY

Australian economist, Alan Koehler :

….world manufacturing is now collapsing at three times the speed in did in the early 1930s — “the damage that occurred from late 1929 to early 1931 has been packed into six months”.Japan’s exports fell 49% in January, and its industrial output has fallen 31%, 24% in Spain, 19% in Germany, 17% in Brazil, 13% in Russia and by 11% in the UK and US. This has all happened since last September, when Lehman Brothers went under.

Everyone who has influence at the G20 summit seems to be betting on a fast fall leading to a fast recovery. It’s exactly the same kind of wild betting that began the global financial crisis.

Even before the bitter fighting to restructure the world economy and global trade really gets underway, one thing is most certainly clear : China Wins.

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