The Organisation for Economic Co-operation and Development (OECD) warned that what had been some of the world’s strongest economies — China, Russia and Germany — are now deteriorating the most quickly, and that the entire global system is succumbing to what it called a “deep slowdown.”
China’s exports dropped almost 3 percent last month, their biggest decline in a decade, and there are estimates that unemployment is now as high as 9 percent in urban areas and 20 percent in rural areas.
Marcus Mabry, the international business editor of the The New York Times, joins Martin Savidge to discuss the OECD’s report, how the deterioration of major world economies will impact the U.S. and stimulus plans abroad.
NOTE: Information you supply on this page will only be used to send this email. We request your name and email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. All fields marked with an asterisk (*) are required.