The Depression Goes Global
While the attention of the financial world and the business press have been focused so completely on the daily developments in Europe – though there's not a game changer among them - other economic news from around the world has been largely crowded out.
The real news is that the depression is going global.
The spreading of the slowdown can be seen in the so-called BRIC nations. Surging growth from Brazil, Russia, India, and China has helped drive some of the world's economic vitality for a few years now. But the downturn is now taking hold in those countries, leaving little to resist the rip tide of depression.
Here are some economic highlights from each of the BRIC nations:
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