Global stagnation: Difference between revisions
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'''Global stagnation''' is generally considered in early 2012 to be a possible short-term prospect, involving a large part of the world economy. Of 30 countries surveyed by the [[International Monetary Fund]], the growth rates of the economies of 20 were classified as "below trend and moderating"; of 8 as "below trend and rising"; and of only 2 as "above trend"<ref>[http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/text.pdf ''Slowing Growth, Rising Risks'', World Economic Outlook, IMF, September 2011, Fig 1.4 p6]</ref | '''Global stagnation''' is generally considered in early 2012 to be a possible short-term prospect, involving a large part of the world economy. Of 30 countries surveyed by the [[International Monetary Fund]], the growth rates of the economies of 20 were classified as "below trend and moderating"; of 8 as "below trend and rising"; and of only 2 as "above trend"<ref>[http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/text.pdf ''Slowing Growth, Rising Risks'', World Economic Outlook, IMF, September 2011, Fig 1.4 p6]</ref> | ||
According to the [[World Bank]]'s economists | According to the [[World Bank]]'s economists "While contained for the moment, the risk of ... a global crisis, similar in magnitude to the Lehman crisis<ref>A reference to the[[Crash of 2008/Timelines#The Crash stage 3 (September - December 2008)| Lehman Brothers crash]] of September 2008, which triggered the [[Great Recession]])</ref>, remains"<ref>[http://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1322593305595/8287139-1326374900917/GEP_January_2012a_FullReport_FINAL.pdf ''Global Economic Prospects'', Woorld Bank, January 2012]</ref>. The [[/Addendum#Forecasts|January forecasts]] by the World Bank and the International Monetary Fund continue to show growth in the world economy, but at a significantly lower rate than in their previous forecasts. The financial turmoil generated by the intensification of the [[eurozone crisis]] had already spread to the developing countries and to other high-income countries, and despite relatively strong activity in the United States and Japan, global growth and world trade had slowed sharply. | ||
The [[/Addendum#Forecasts|January forecasts]] by the World Bank and the International Monetary Fund continue to show growth in the world economy, but at a significantly lower rate than in their previous forecasts | |||
Revision as of 17:45, 25 January 2012
| The world recovery ...is in danger of stalling.
IMF Economic Counsellor, 23 January 2012. |
Global stagnation is generally considered in early 2012 to be a possible short-term prospect, involving a large part of the world economy. Of 30 countries surveyed by the International Monetary Fund, the growth rates of the economies of 20 were classified as "below trend and moderating"; of 8 as "below trend and rising"; and of only 2 as "above trend"[1] According to the World Bank's economists "While contained for the moment, the risk of ... a global crisis, similar in magnitude to the Lehman crisis[2], remains"[3]. The January forecasts by the World Bank and the International Monetary Fund continue to show growth in the world economy, but at a significantly lower rate than in their previous forecasts. The financial turmoil generated by the intensification of the eurozone crisis had already spread to the developing countries and to other high-income countries, and despite relatively strong activity in the United States and Japan, global growth and world trade had slowed sharply.
- ↑ Slowing Growth, Rising Risks, World Economic Outlook, IMF, September 2011, Fig 1.4 p6
- ↑ A reference to the Lehman Brothers crash of September 2008, which triggered the Great Recession)
- ↑ Global Economic Prospects, Woorld Bank, January 2012