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2011-12-26

How The West Went Bust BBC Business editor Robert Peston’s latest television show

RE: Highly recommended

BBC Business editor Robert Peston’s latest television show on the state of global economy is so depressing it should come with a health warning.

In a two part series, The Party’s Over: How the West Went Bust, Peston explains how hubris, greed and ignorance for decades means years of pain ahead.
 

Years of excessive borrowing to feed consumption rather than investment have left Western nations with a debt mountain and little to show for it except goods and property.
 

Greece offers a terrifying microcosm of the debt problems across Europe and the West, especially Britain.
 

Read more here at IntCom


And the Chinese prioritise exports over imports while Britain imports considerably more than it exports with a focus on services, particularly finance and legal, rather than manufacturing.
 

This is what economists call global trade imbalances
 

Read more here at IntCom

Full text of article

See the program here 


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