Word: crisises
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Dates: during 1990-1999
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We cannot be content just because 1998 did not end with a global financial meltdown and the U.S. and Europe achieved a good economic performance despite the debacle in the emerging markets and in Japan. If last year marked the end of U.S. and European complacency toward what was wrongly...
Although recession looms large in Latin America, a slow and painful bottoming out of the crisis is occurring in East Asia. But the return to growth will be very gradual, barring any other unforeseen disruption. In this respect, the ability of China to manage the stability-growth-reform trilemma in...
We cannot afford to consider these threats to world prosperity simply as natural expressions of the ups and downs of economic life. The turmoil of the past 18 months reflects the first systemic crisis of the global economy of the 21st century dominated by financial capitalism. It shows how much...
This is the context that already last spring, led us at the World Economic Forum to make responsible globality the theme of this year's annual meeting in Davos. Of course there have been a lot of comments--gleeful or disappointed--about the globalization process being stalled or even in...
There is relief because the global meltdown that many feared a year ago has not materialized. "We got very close to the edge of a financial crisis we haven't seen since the 1930s, which had the potential of pulling into that vortex the financial institutions and markets of the...