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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: NOW who wrote (4287)4/14/2004 12:15:14 AM
From: mishedlo  Read Replies (2) of 116555
 
Noted Management Strategist: U.S. Economy in Throes of Deflation

prnewswire.com

SAN FRANCISCO, March 31 /PRNewswire-FirstCall/ -- The U.S. economy is in the throes of not just an economic slowdown, but full-fledged deflation, a condition likely to stretch into the next decade and to force fundamental changes in how companies are managed, according to noted Perot Systems(NYSE: PER) management strategist and thought leader James Champy.

"I'm not an economist, but based on thousands of hours of working closely with Boards and CEOs of companies throughout the country over the past few years, I can tell you firsthand about the forces buffeting American industry," said Mr. Champy. "The dirty little secret is that we are in a period of structural and competitive deflation, and it's not a pretty picture."

Mr. Champy cited several factors contributing to the fundamental economic shift. Among them are the substantial productivity growth driven by the massive technology spending of the late 1990s, the major increase in global competitiveness spurred by the information revolution, and major geopolitical developments such as the creation of the European Economic Community and the emergence of developing nations such as China and India as burgeoning centers of commerce and technology.
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