Article review on world economy

Initially the author has tried to compare today’s economic conditions with the 1929 stock market crash. Later on he has tried & given examples from every possible crisis in the history.

Certain statics:-

The IMF’s .base case? is that American and European banks will shed some $10A trillion of assets, equivalent to 14.5% of their stock of bank credit in 2009 In America overall credit growth will slow to below 1%, down from a postwar annual average of 9%. That alone could drag Western economies’ growth rates down by 1.5 percentage points. Without government action along the lines of America’s $700 billion plan, the IMF reckons credit could shrink by 7.3% in America, 6.3% in Britain and 4.5% in the rest of Europe.. That will cushion the world economy but may not save it from recession.

Reasons for unwelcomed recession

1. Oil prices

2. Tighter credit

The author says that history teaches an......

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Title: World Economy Review
Approximate Word Count: 1042
Approximate Pages: 5 (250 words per double-spaced page)

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