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Boston ITer
Joined: 11 Jan 2010
Posts: 269
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 Posted: Wed Dec 22, 2010 3:01 am GMT Post subject: |
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In 2002-03, the business revenue in the private sector dried up across whole IT/telecom sectors. 50% of companies in these areas went under or were consolidated.
Then, we had a type of pseudo-recovery based upon a credit/asset bubble which comprised of real estate and private equity. And then during this time, in an almost stealth-like way, there was a rapid build up in defense spending.
Now, we're in another recession but this time, there's no new client-server paradigm, like back in the early 90s, which could be the center stage for the region to comeback. This time, it's more of this 'wait and see' or Waiting for Godot for one or another stimulus program to work its miracle. |
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