Nobel Prize laureate Joseph Stiglitz, a rock-star among left-of-centre progressives around the world, was quite upbeat about Latin America, Asia and other emerging economies when I interviewed him extensively last week about the possibility of a new world recession.
As we were talking early in the afternoon Thursday, the US stock market had tumbled by more than 300 points, websites carried alarming headlines about a possible financial meltdown of Spain and Italy, and my Herald column that morning had quoted several economists as saying that the expected US economic slowdown would have a negative impact on Latin America’s exports,
