1945

Current trends and issues in the world economy

In mid-2008 the global economy is teetering on the brink of recession. The downturn after four years of relatively fast growth is due to a number of factors: the global fallout from the financial crisis in the United States, the bursting of the housing bubbles there and in other large economies, soaring commodity prices, increasingly restrictive monetary policies in a number of countries, and stock market volatility. Without strong and internationally coordinated action on macroeconomic policy, a fully-fledged global economic recession seems unavoidable.

Related Subject(s): International Trade and Finance
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