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Financial Times (September 13)

2010/ 09/ 15 by jd in Global News

Two years ago Lehman Brothers collapsed on 9/15. Nine years ago the World Trade Center collapsed on 9/11. Which was the bigger event? 9/11 reinforced the old world order with the U.S. taking the lead. But after 9/15, the U.S. was no longer in front. Lehman called the U.S. financial model into question. 9/15 also highlighted the rise of China and other emerging economies, which bounced back from the shock much faster than developed economies.

 

Telegraph (September 13)

2010/ 09/ 15 by jd in Global News

“America and Europe face the worst jobs crisis since the 1930s.” Dominique Strauss-Kahn, head of the International Monetary Fund (IMF) warns that “the Great Recession has left behind a waste land of unemployment.” Approximately 30 million jobs were lost, 75% in developed economies. In the U.S., 50% of the unemployed have been seeking jobs for over 6 months, a situation last seen during the Great Depression.

 

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