European businessmen like to say that "if the U.S. sneezes, the rest of the world catches pneumonia."
In the last six months the U.S. has had some economic sniffles and sneezes. Has the rest of the world taken to its bed? Not Great Britain, France and West Germany, who are, in fact, walking more erect than any time since World War II. However, since there is usually a time lag between a downturn in the U.S. and its effects on the rest of the world, businessmen thought it too early to tell whether the stalwarts of Europe would be affected....
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