La Situació de l'economia mundial : hem superat la crisi?


  • Joaquim Ferran


Financial markets all over the world suffer from instability and turbulence unknown in decades. Starting in South East Asia, the peak was reached with the Russian debt moratorium. However the real economies have stayed strong, except in Asia which is undergoing a deep recession. Problems in Asia have not decelerated growth in North America and Europe. World growth outlook is still predicted as positive, with improvements in Asia counterbalanced by slower growth in North America and Europe. Complacency can be risky, because of economic policies followed by individual countries such as Japanese reflation , risk averse capital markets, protectionism, and excessively expansive monetary policies. The crisis is not over, because structural problems are all still in place in Asia. A Great Depression like the thirties is unlikely unless we do things extremely badly, but a global recession affecting many countries will be difficult to avoid.