In its quarterly “Global Prospects” research publication, the Centre for Economics and Business Research predicts that Europe, the U.S. and Canada will generate less than 50% of global economic output this year. “We had expected this to happen but not quite so soon,” CEO Douglas McWilliams said. “The West will have to start to get to grips with the fact that we are no longer dominant and cannot expect to have things our own way.”

Article:   Bloomberg

   
   

         
         

This entry was posted on Friday, June 5th, 2009 at 11:34 am