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The global economy continues to weather the most difficult climate in generations.What began as a financial crisis in the United States and the United Kingdom quickly turned into the largest global recession in decades.
World GDP is expected to contract by a record 2.5 percent in 2009 as the financial crisis continues to spill over into the real economy,1 engendering massive declines in consumer demand, rising unemployment, and mounting protectionist pressures worldwide.
Although the developing world at first seemed to be spared from the fallout of this crisis, many countries are now facing slumping demand for their export products; this decline is coupled with falling commodity prices and significant reductions in foreign investment and remittances. Moreover, a global liquidity shortage has negatively impacted access to finance for companies and governments alike.
In this context, policymakers are being confronted with new economic management challenges. All over
the world governments have taken an active stance in addressing the crisis and the ensuing recession. Banks have been bailed out or nationalized on an unprecedented scale to buffer the immediate impact of the financial system’s collapse.
Rapport à télécharger sur
http://www.weforum.org/pdf/GCR09/GCR20092010fullreport.pdf
The global economy continues to weather the most difficult climate in generations.What began as a financial crisis in the United States and the United Kingdom quickly turned into the largest global recession in decades.
World GDP is expected to contract by a record 2.5 percent in 2009 as the financial crisis continues to spill over into the real economy,1 engendering massive declines in consumer demand, rising unemployment, and mounting protectionist pressures worldwide.
Although the developing world at first seemed to be spared from the fallout of this crisis, many countries are now facing slumping demand for their export products; this decline is coupled with falling commodity prices and significant reductions in foreign investment and remittances. Moreover, a global liquidity shortage has negatively impacted access to finance for companies and governments alike.
In this context, policymakers are being confronted with new economic management challenges. All over
the world governments have taken an active stance in addressing the crisis and the ensuing recession. Banks have been bailed out or nationalized on an unprecedented scale to buffer the immediate impact of the financial system’s collapse.
Rapport à télécharger sur
http://www.weforum.org/pdf/GCR09/GCR20092010fullreport.pdf