| Description | The credit crunch in the United States and Europe appears to be transforming into a global recession and starting to squeeze business across a wide range of industries. Slowing growth, weakening demand and reduced lending by banks, compound an already difficult environment in which key commodity prices are fluctuating rapidly. While some geographies and industries are proving more resilient than others, our general advice to clients is to take proactive steps to prepare for potentially challenging days ahead.
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