NU Online News Service, Sept. 13, 2: 15 p.m. ? Although the terrorist attacks at the World Trade Center have damaged U.S. confidence enough to cause a full-blown recession, the United States has a diverse and decentralized economy that should rebound despite the damage, says Stratfor Inc., Austin, Texas, an intelligence cosultancy, in a statement.
As a result of the terrorist attacks, however, the U.S. recovery, originally expected in the latter half of 2001, will be delayed for at least six months, Stratfor predicts.
While the short-term environment is fraught with uncertainty and risk, the U.S. economy remains fundamentally stable, and most importantly, decentralized. New York may be a global center, says Startfor, but it is not America’s only economic hub. Baltimore, Boston, Chicago, Dallas, Houston, Los Angeles, Miami, Philadelphia, San Francisco and St. Louis are all world-class cities with their own independent infrastructures and economic bases. This economic diversity, according to Stratfor, will prevent the injuries to New York and Washington from inflicting permanent damage on the economy as a whole.
According to Stratfor, a number of multinational giants lost their offices as a result of the attacks, along with 418 other firms, including Allstate, Bank of America, Bank of Taiwan, Credit Suisse, Delta Airlines, Deutsche Bank, Dun & Bradstreet, First Liberty, Fuji Bank, Hyundai, Oppenheimer Funds, Sinopec, Sun Microsystems, World Travel and Xerox.