Int'l Impact of U.S. Recession
Al Jazeera
25-March-2008
(Al Jazeera) - To use a common rhetorical question in economics - when the US economy sneezes does the world still catch a cold or has the rest of the world broken its dependency on the US motor?
A looming recession in the United States poses a vital question about recent changes in the global economic landscape.
Last week, Henry Paulson, the US treasury secretary, referred to a "sharp" economic downturn, the OECD said the US economy was "essentially going sideways" and Alan Greenspan, the former federal reserve chairman, warned of the worst financial crisis since World War Two.
On the Riz Khan show we take an in-depth look at the state of the US economy and the impact it is having on global economies.
Our guests are Lakshman Achuthan of the Economic Cycle Research Institute in New York, Ha-Joon Chang, the author of Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, and James Galbraith, an author and progressive economist.
You can watch the discussion in two parts below.
Riz Khan Show, Part One Video
Riz Khan Show, Part Two Video