Monday, March 30, 2009
When will global economy improve?
The pain in economic system has just started and is still in process of spreading to many countries...Every country directly or indirectly is effected by this. The US Economy has overspent and supported world growth so far. It does not have the strength to grow for the next few years. US will be out of recession only after the accumulated public debt of 10 trillion dollars is wiped out and public assets start to raise. This will be only after 4 years. Meanwhile other countries must take the lead growth engine role. No single country can match US in scale so we need a few countries such as Brazil, Russia, India, China (called BRIC) along with Southern Africa, eastern europe and south east asia to invest massively in infrastructure This will hopefully create the momentum needed to kick start the global economy.