In the Aftermath
It's time to take a more measured view of the after-effects of the Sept. 11 terrorist attacks, if that is possible after the tragedy and horror of that day. Financial markets are likely to remain disrupted for some time and global trading will be subdued. However, the initial panic reaction has retreated to some extent. Central banks have moved to assure that they will provide liquidity for the global financial system, and this should serve to confound the more pessimistic fears that the global economy will be tipped into a deep recession. But the pull-out may be more difficult.
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