Effect of US Recession on the world Economies

Will the recession in America effect the other economies in a big way?

Yes this recession would effect other economies such as the EU as this is a recession for all world driven by US. Economic experts say that China, Japan, Canada, Mexico and German will suffer bad after the US. Rest of the world will suffer for lesser extent.

All countries own some international currency for their regular imports. China has 1530 billion dollars, Japan 935 billion dollars and so on. Out of this money about 66% is US dolars. As oil is selling only in US dollars all countries need US dollars to buy oil. If dollar falls. All countries loose their money from 66%.

All the other countries are connected to the US, as US is consuming highest commodities in the world in some way or other. German has the biggest share in euro. Some say euro is the transformation of Deutsche Mark, and as German suffers, euro suffers. So Europian Union will suffer.