Comments on the article “The odd decouple”, The Economist, 2/09/2010, http://www.economist.com/node/16943853/
The article came with this sentence to accompany the title: “Theories about why some rich-world economies are doing better than America’s don’t stand up”.
Those mentioned theories including the one created by The Economist are all missing the point here.
They all ignored the fundamental point how the GFC occurred in the first place.
It was the sub-prime mortgages crisis in the US.
The effects of that crisis unfolding and unwinding have been, are and will continue to be different for different countries in the rich world - a similar version of the stronger contrast between the rich and the newly emerging economies in the past two years.
The US has been the epicentre of the GFC and incurred much greater damages to itself. As a result, it requires longer to recover from it.
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