“A recovery in the world economy is now under way, the International Monetary Fund said on Thursday, but it warned there were many obstacles to sustained rapid growth.”
“The IMF is no more optimistic about the medium-term outlook, insisting that growth prospects depend on resolving two difficult challenges: the weaknesses in the global banking system; and the persistent unwillingness of countries with large trade surpluses to boost domestic demand and become motors of world growth.” Financial Times-1/10/09
http://www.ft.com/cms/s/0/ceeff158-ade6-11de-87e7-00144feabdc0.html
Economy is recovering? Unemployment is soaring industries in US and Europe are showing negative growth,there is less demand:still economy is recovering?
Note the two reasons;Weakness in banking is a remark made in passing , though it is a very serious affair.Note no remedial measures are suggested.
Secondly which Nation is not trading surpluses, when all the Nations are crying that there is no demand?
What sort of funny analysis is this?
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