It is now quite clear that we are entering a phase of global growth slowdown, but Europe looks bette...
It is now quite clear that we are entering a phase of global growth slowdown, but Europe looks better placed than the US, both in economic and stock market terms. Europe simply has not suffered from the economic excesses of the US. The business cycle in the US was alive and well, it is just that we didn't see it. The capital expenditure drive in technology became, by this time last year, divorced from the idea of returns on investment. Sure enough, this boom is now unravelling into bust. In continental Europe the long period of economic expansion from the early 1990s has coincided wi...
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