US economy impacting emerging international markets

from today's GlobeSt. (3/19);

Last updated: March 19, 2008 09:08am

Global Slowdown Benches Many Emerging Markets
By Connie Gore

"MIDDLE EAST-On Tuesday, as the financial markets see-sawed, Global Insight Inc.'s experts forewarned the US recession, no longer an "if" in their world, is preordained to impact all corners of the world except the Middle East and North Africa. The webcast included emerging markets in Greater China, Asia and Latin America.

"Clearly, a global economic slowdown is under way, and it's exacerbated by the financial market turbulence," said Nariman Behravesh, chief economist and webcast moderator for Waltham, MA-based Global Insight. "The US clearly is in a recession. The only question is how deep and how long."

Behravesh predicts the US recession will be "mild" and have ripple effects throughout the world, but not enough to trigger a global recession. His odds are that there's a 30% chance of a worldwide recession due to the US recession and a softening of China's fast-paced growth." ...

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