| ID | 116102 |
| Title Proper | Fall and rise of the west |
| Other Title Information | why America and Europe will emerge stronger from the financial crisis |
| Language | ENG |
| Author | Altman, Roger C |
| Publication | 2013. |
| Summary / Abstract (Note) | The 2008 financial crisis and the Great Recession that followed have had devastating effects on the U.S. economy and millions of American lives. But the U.S. economy will emerge from its trauma stronger and widely restructured. Europe should eventually experience a similar strengthening, although its future is less certain and its recovery will take longer to develop. The United States is much further along because its financial crisis struck three years before Europe's, in 2008, causing headwinds that have pressured it ever since. It will take another two to three years for these to subside, but after that, U.S. economic growth should outperform expectations. In contrast, Europe is still in the midst of its financial crisis. If historical logic prevails there, it will take four to six years for strong European growth to materialize. |
| `In' analytical Note | Foreign Affairs Vol. 92, No.1; Jan-Feb 2012: p.8-13 |
| Journal Source | Foreign Affairs Vol. 92, No.1; Jan-Feb 2013: p.8-13 |
| Key Words | Financial Crisis - 2008 ; Great Recession ; US Economy ; Europe ; United States ; European Growth |