Have we learnt the lessons from the Japnese lost decade? Nouriel Roubini, famously nicknamed Dr. Doom, and one of the very few economists who predicted the scale of this disastarous recession points out major differences between the Japnese experience and the American experiments since the crisis began in August 2007. His concludes by saying that the US and the global economy are teethering at the edge of a near-depression and if this is to be avoided the policy actions need to be 'bold, aggressive, sustainable and credible'. Access this Forbes article here.


Despite all the pre-election hoopla over the new president's foriegn policy little action has actually taken place. In the new administration's first diplomatic move Vice-President, Joe Biden visited Europe for the Munich security conference to meet with leaders and security experts from from Russia, France and Germany. Setting the tone for the new US foriegn policy Biden made it clear that the Obama administration will be accessible to its European allies and will be a lot more flexible than the previous administration. Access this BBC world edition article here.


The Russian economy is showing strains remniscent of the late nineties when the rouble went into a free fall and took with it a fragile Russian economy. According to Ellen Berry of the International Herald Tribune companies are starting to offer bartering deals in exchange for their manufactured goods. The most prominent case is that of the Hyundai factory in Taganrog which has offered to exchange vehicles for raw materials or commercial equipment. Access this International Herald Tribune article here.