Friday, February 19, 2010
U.S. Faces Emerging Economic Challenges
The U.S. recovery was tentative to begin with, but now prospects are looking a little bit worse; European turmoil and Chinese belt-tightening are jeopardizing the recovery. Europe's economy is uncertain due to concerns over Greek's elevated public debt; which could indirectly hurt the U.S. growth prospects as it would increase the U.S. dollar but damage the U.S's export market. U.S growth also hinders on trade with China; and China, in an effort to prevent inflation and its own housing bubble may be purposely halting its expansion; once again damaging American recovery hopes. It seems the U.S. may need to find a new way if it hopes to recover fully.