Showing posts with label great depression. Show all posts
Showing posts with label great depression. Show all posts
Friday, March 27, 2009
The global trade is declining. WTO estimates that the global trade will decline 9% this year against a 2% increase in 2008. It was even at a 6% increase 15 months ago. Is it because of protectionism that made the 1930s recession a great depression or is it because of falling demand. Thankfully it is because of falling demand.
Read the full article HERE
Tuesday, March 24, 2009
Will The G20 Summit in April 2009 Fail Just Like The One in 1933?
0 comments Posted by PD at 7:37 PM As delegates gather for the G20 summit in London on 2 April, it is worth looking to the last time London hosted a world economic summit. In June 1933, delegates from 66 countries gathered in London to try and agree plans to revive the world economy in the midst of the Great Depression. The author of this report from BBC argues that though the crisis this time is different but need of political will and the global nature of both recessions are same. If correct lessons are not drawn from the 1993 conference failure then it may happen again. The author also aomments that being the largest economy, US has to be have the political will to solve the world's problem rather than having a double agenda just like that of FDR. April 2nd is not far. Lets see what happens.
Read the full BBC article HERE
Read the full BBC article HERE
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