Where is tge global economy heading?
The shock of the near collapse of the global financial system in the 4th quarter of 2008 has abated. Even the World Bank, in a newly published review of the global economic outlook, credits governments en masse for having taken measures to support their economies. However, the World Bank has adjusted the global economic growth prediction downwards, from -1.6% for 2009 to -2.9%, in the same report. The last time growth, or negative growth as it is often termed, was this bad was in the 1930’s. Most economists, even if they have or have not seen the “green shoots” of recovery for 2009, see better times ahead in 2010. From there again there is a major split in opinion one group sees anemic economic growth for some years to come as many economies have to adjust to years of overkill in terms of consumers spending on credit with low or non existing savings levels. However, not every analyst agrees, they cite rapid real increases in government spending; this is certainly the case in the UK. St
