| Publication |
2009.
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| Summary/Abstract |
Constant theorising notwithstanding, at the moment no one has a clear understanding of when the current global economic meltdown will pass, or what the landscape will look like when it is done. One survey of economists, released by the Wall Street Journal during the first week of April, suggests that the US recession will end in September. As for the rest of the world, who knows? But there is also looming apprehension for the period beyond this timeframe, that the end result could be a situation worse than the Great Depression of the 1930s. Already there are clear signs of this, with manufacturing sectors around the globe collapsing, spectres of protectionism reappearing, layoffs becoming rampant, economic nationalism re-emerging, and social tensions and instabilities adding to the mix. In this part of the world, China and India, the two giants, despite showing some resilience, have suffered tremendously.
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