Fall in US Economy to Affect Import from Asia: British Expert

Business Materials 17 January 2008 20:16 (UTC +04:00)

Azerbaijan, Baku, 17 January /corr. Trend A.Badalova / Mainly the investors are concerned by the growth rates of the US economy. The large number of the non-comforting financial reports of the big companies provides grounds to say that the fall in the US economy is inevitable. According to the expectations of the US Goldman Sachs investment bank, the fall will take place this year as well.

The possibility of fall in the US economy was one of the reasons of fall in the oil prices. According to the several experts, the fall in the USA may appear as one of the deepest issues in the past decade and will adversely affect the economies of the developing countries of Asia.

Paul Ashworth, the Chief Economist for the USA and one of the leading British consulting companies Capital Economics, reported to Trend on 17 January that the fall may negatively affect the import to USA from the Asian countries. Ashworth describes the risk of fall in the USA economy at 50%.

The USA imports textile, dresses, shoes, toys, home appliances, tourist bags, etc.

The Federal Reserve System of the USA recognized it as a difficult situation for the economy. Last week, Ben Bernanke, the Head of the US Federal Reserve System, said that the USA is prepared to continue reducing the base account rates to fight against the crisis, RBK reports with reference to Reuters.