FT.com | Economists' Forum | US foreign policy and the global financial crisis

FT.com | Economists' Forum | US foreign policy and the global financial crisis: "Not only did the global financial system seize up at the end of last year, but the Asian Development Bank has reported that the total loss of worldwide market wealth is $50 trillion, close to a year’s world output. The loss of stock market wealth alone is $25 trillion. Demand for manufactures, world manufactured output and world trade in manufactures fell off a cliff at the end of last year: Germany’s industrial output was down 19.2 per cent year-on-year in January, South Korea is down 25.6 per cent and Japan is down 30.8 per cent."