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"It's tough to make predictions, especially about the future," Yogi Berra famously said. Economic forecasting is made even tougher at a time when all the world's industrialized economies are in recession at the same time, and for the first time since World War II.

How stimulating is the stimulus?

By Peter T. Leach/The JOURNAL of COMMERCE


“It’s tough to make predictions, especially about the future,” Yogi Berra famously said. Economic forecasting is made even tougher at a time when all the world’s industrialized economies are in recession at the same time, and for the first time since World War II. China and India, the biggest emerging markets that are still growing, don’t yet have consumer markets large enough to reignite their domestic growth or their imports from developed economies.


Which country, then, can lead the world out of its recession and reverse the downturn that has slowed international commerce and caused the first contraction in volume that the container shipping industry has seen?


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