New Star: decoupling argument was a "hollow" idea

Pease, manager of the European Growth fund, argues that with the dollar still the pre-eminent trading currency and the US accounting for more than 25pc of the global economy, America's problems were bound to affect other nations. Conversely, Pease believes that Europe would perhaps have been a more plausible candidate for decoupling with the US, with its developed yet diverse economies. Despite this, growth in the eurozone also contracted across the board in the second quarter of 2008. However, Pease believes there are still some areas of opportunity. He said: "In digging deeper, it can...