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Further, the European Union because of its high interdependence and trade links with the U.S. economy behaves in a similar manner as U.S. economy. Thus, more countries would dumb their goods in the home market and hence do not have the capacity to absorb the additional rise in production. This would in turn lead to a fall in production...

This would in turn lead to a fall in production. Even the service sector would be see large scale loss in jobs. Already with the low growth scenario for the previous three fiscals, we have seen large scale cut in jobs in the IT sector in U.S. and even countries exporting services such as India. Add to it the political hegemony of U...

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