Unfortunately, both developments were probably short-lived. Oil imports likely rose thanks to rising prices,and many economists think a months-long trend of weaker demand for U.S exports will reassert itself. Recovery in other corners of the globe is expected to lag behind the U.S.The first step of that process seems to be happening-U.S. consumers are more cautious----but it is unclear who will take up their slack.China is the hope of many economists-particularly now, as it is blessed with a $585 billion fiscal stimulus package that is among the world's largest.Already U.S. companies such as Caterpillar and General Motors say they are benefiting from stronger Chinese spending. However, The impact of this demand remains to be seen.
