Monday, October 5, 2009
Asian Stocks Fall as U.S. Unemployment Rises
After reports from the U.S. government were released showing that the unemployment rate rose to 9.8% this month Asian stock markets fell. The increased unemployment rates depict that the United States' economy is still fragile and recovery is unassured. Although the loses in Asian markets were only moderate (Europe barely faced any change) this could be telling of Asia's dependency on exports to the United States and their need to develop a more internalized, consumer driven economy if they are going to prevail.