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The Year Ends With The Economy Explaining ItselfDECEMBER 20, 2002 · 13:54
Three separate governments have issued statements this month saying that the difficult times are over. The statements were made within eleven days of each other, by countries with very different economies, which suggests that either the analysis is genuinely universal or that governments in difficulty all sound alike when they read from prepared remarks.
THE YEAR. THERE IS NO PHOTOGRAPH OF A YEAR.
( FILE PHOTO )
THE YEAR. THERE IS NO PHOTOGRAPH OF A YEAR.
LONDON, December 20 -- The year has ended with the markets up, the world's largest bankruptcy behind us, an oil-producing economy in the fourth year of a dispute it has been losing, and three central banks cutting rates on the same week for reasons that do not entirely coincide.
Analysts expect next year to be better. Analysts expected this year to be better.
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