Obama gives warning over recession
09-01-2009
The American president-elect, Barack Obama, has given a stark warning of the potential long-term impact of the global recession. In a speech in Virginia, he said manufacturing had reached a 28-year low. Many people could no longer pay their mortgages and Americans were anxious about the future. He called for dramatic action if this recession was not to become long-term. He warned of a greater danger of a deep and systematic long-term crisis that could threaten America's role as a world economic leader.
