Edinburgh. Photographer: George Washington Wilson (Scottish, 1823-1893). Posted to Flickr as Edinburgh from Calton Hill
Which places are doing well economically?
Brazil, China, India, France, Germany and Edinburgh!
The oil price has climbed above $71 a barrel, which helps Brazil and Scotland.
The Economist, 13 August 2009, writes about Brazil:
"Already one of the ten biggest economies, it was one of the last of them to enter recession and now looks like being one of the first to leave it." (Whose side is Brazil on?)
Edinburgh is alive and well.
According to The Economist, 13 August 2009, (Party time)
In Edinburgh the number claiming unemployment benefit is 3.2%, which is below the UK average.
"Streets and restaurants are jam-packed; pubs and clubs are buzzing...
"Edinburgh has been enjoying a tourist boom. The number of passengers passing through its airport has risen each month since March, and by 5.6% in July, the only British airport to record such growth...
"20 new international routes added since January...
There has been "a big rise in the number of foreign firms investing in Edinburgh.
"Thirteen have come in during the first half of 2009, compared with 12 in the whole of 2008..."
Much of Asia is booming according to The Economist, 13 August 2009 (An astonishing rebound)
"The four emerging Asian economies which have reported GDP figures for the second quarter (China, Indonesia, South Korea and Singapore) grew by an average annualised rate of more than 10%
"Indicators, which are less likely to be massaged, confirm that China’s economy is roaring back.
"Industrial production rose 11% in the year to July; electricity output, which fell sharply last year, is growing again; and car sales are 70% higher than a year ago.
"And surely the whole of Asia cannot be engaged in a statistical fraud.
"South Korea’s GDP grew by an annualised 10% in the second quarter.
"Taiwan’s probably increased by even more: its industrial output jumped by an astonishing annualised rate of 89%.
"India was hit less hard by the global recession than many of its neighbours because it exports less, but its industrial production has also perked up, rising by a seasonally adjusted rate of 14% in the second quarter."
The French and German economies both grew by 0.3% between April and June, "bringing to an end year-long recessions in Europe's largest economies". France and Germany exit recession