Darling in new alert on depth of recession

Alistair Darling warned on Tuesday that Britain was “far from through” the recession, in a clear signal that he will have to abandon the government’s forecast that the recovery would start in the second half of this year.
In an interview with the Financial Times, the chancellor repeatedly used the word “difficult” to describe the outlook, after economic data suggested his forecasts last November were over-optimistic and will have to be revised in this spring’s Budget.
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Why China is not to blame for the surge in global inflation

MANY people in America and Europe think that the recent surge in inflation, like almost everything else these days, is “made in China”. For a number of years, cheap Chinese goods helped to reduce prices in rich economies, but more recently wages and prices have surged in China. On top of this, the hungry dragon’s insatiable appetite for food, energy and other raw materials has given cartoonists an emotive image for the surge in global commodity prices. As a result, it is claimed, China is no longer exporting deflation to the rich world, but inflation.
Click here to read the article(Economist)