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To: elmatador who wrote (48361)	4/11/2004 6:18:25 PM
From: Ilaine	Respond to of 74559

1) To understand a Great Depression one must be American. 2) Only Americans study economic history. 3) A Great depression is an American economic phenomenon. No, no, and no. (1) and (2) There are a number of excellent economic historians all over the world. I can't read them unless they are translated into English or write in English to begin with. I do belong to a couple of economic history societies, and get their journals, which are in English, naturally, but have articles written about every time and place known to man. Many of the authors work in other countries, and many of the ones who work in the USA are originally from other countries. (3) The Great Depression of the 1920's-1930's was a global phenomenon. It was really bad in, for example, Germany and Great Britain. Worst in Germany, actually. In the construction industries in Germany 80% unemployment in the winter of 1932-33. Not so bad in China. Why worse some places than others? Good question, I don't have the answer. Something to do with gold and globalization, it seems to be. If I am engaged in trade with you, then when bad news affects you, it will affect me as well. ~~~~~~~~~~~~~~~~~~~~~~~~~~ Is Brazil going through a Depression? Sorry, I have no idea. But the US clearly is not. Slower growth is still growth.