Recession not over yet.
IMF has yesterday declared that worst is over. Economy has revived and all major economies are showing positive growth. But do we all feel that. Do we see the signs of growth around us. Probably not. IMF chief economist hinted that recovery would be painfully and would take years.
”The recovery has started,” claimed Olivier Blanchard in a paper published by the IMF yesterday. ”Sustaining it will require delicate re-balancing acts, both within and across countries.”
Asia might have shown some resilience mainly backed by respective Governments efforts to artificially create demands in the economies by offering stimulus packages. But for export reliant economies the worst might still not be over.
India might be a stable economy and may well be better prepared to deal with recession but other countries in Asia are not there in the same league. The supply will continue to outrun the demand in the times to come. But the trend has started getting reversed. Both Japan and Singapore have reported positive growth figures for the periods just ended.
India and China will continue to play the major role in the world economy and they together will be driving the growth.
May also like to read: How we can prepare ourselves to see beyond recession
the economic recession made a lot of workers jobless. my best friend and me lost our jobs because of job cuts. i hope that our economy would recover soon.
the Economic recession made a lot of jobless people in my own country. We could only hope that our economy becomes strong again
I think we are also seeing some signs of recovery from the Economic Recession. Of course, we have no idea of how long it will take to completely recover, but some say it’s going to be longer than for the other recessions in decades. I also scanned an article yesterday that said business owners need a new set of tactics to do well during recovery.