This morning I heard on the news that mortgage borrowing increased by 17% last month. I also heard that 350 car manufacturing jobs are being created to produce lithium batteries for cars, here in the UK. Also, it appears that Domino pizzas had a 25% increase in profits for the last year. These are certainly positive signs following all the bad news with which we are bombarded day after day.
In the news today I also read that Asia is seeing an increase in demand for its manufactured goods, and this trend seems to be evident in Japan and China. Also, but by no means insignificant, Israel is experiencing an upturn in its economic fortunes see this link:-
As a country, Israel is going to be upgraded to the status of a developed country in 2010 according to a report I heard on Israel National Radio a few weeks ago.
Is it possible that the formerly lesser developed economies and those which we used to label third world countries are going to lead the way out of what we are repeatedly being told by our government is a 'Global problem which started in America'?
The experts have indicated that if the worlds largest economies descend into a deeper economic recession then the economies of Russia, South America and theAfrican states will be plunged into much deeper poverty than they currently experience.
On a positive, perhaps wishful note, wouldn't it be nice if those countries now in poverty had an economic growth spurt to lead the rest of the world out of recession? I am not an economist by any stretch of the imagination, so maybe I am living in cloud cuckoo land, but in a world of infinite variety strange things can happen!
P.S. Did you know that the economy of California if it was classed as a country in its own right would be the 8th. largest in the world, it's even bigger than Canada. Also, I recently heard in a discussion recently about their huge budget deficit that there is no provision in American law for a state to go bankrupt, an individual, yes, a corporation, yes, but not a state!
