slowing of global economic growth

The whole scene of global economic growth might be slowing down considerably due to the credit crunch leading to loss of jobs, and loss of demand for manufactured items. This might lead to severe slowdown of some of the drivers of growth in the last few years like the chinese economy are highly dependent on export to the USA.

Most americans have been living far beyond their means and may be deep in debt, and the slowing down may lead to lower earnings, smaller paycheques, slump in home equity and tightening of spending if they are wise.

The figures at the retailers seem to indicate a slowdown in consumption


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