Suddenly, The Global Slump Is A Global Revival

Only a few months ago, the outlook for economic growth overseas looked grim. West Germany was struggling with the hefty cost of absorbing east Germany, Britain was mired in a severe downturn, and there were even fears that mighty Japan was sputtering. The global slump threatened to depress demand for U. S. exports, which would have lengthened the U. S. downturn and dampened the strength of any recovery.

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