High Point Enterprise in High Point, North Carolina

Global Economic Malaise Hits Nations Worldwide

An AP analysis surveys how inflation, rising costs, and political indecision grip industrialized nations. It notes postwar memory of inflation in Germany, the European Common Market crisis, and varied national responses from Canada’s wage policy vote to Italy’s austerity, Japan’s voter confusion, and Britain’s prolonged recovery. It warns of a potential new global depression unless liberalized trade and coordinated action curb the spread of economic unease.