Student or Learner
Would you be kind enough to tell me whether I am right with my interpretation of the expression in bold in the following sentences?
It is not just the US that will be using less oil - many other western economies have been hit by the same credit crunch and there is a knock-on effect for their trading partners, including those power-house Asian economies that were supposed to be fuelling the demand earlier in the year
Recession in the USA will have a knock-on effect on UK export.
a knock-on effect = a subsidiary or indirect effect
Thanks for your efforts.