Netherlands' Wellink on business cycles

In a speech on 'Business cycles and foreign direct investment' given on 23 September, Nout Wellink of the Netherlands Bank and President of the Bank for International Settlements said looking at the current business cycle he is convinced that the worst part is behind us now. Most indicators point to a sustained recovery of the US and the world economy.

"Traditionally, Dutch-American trading and investment relations have been extensive. In particular, on average around a quarter of outward Dutch

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