Isn't this what we have been waited for - global recovery. In fact, all the signs and symptoms suggested that we may have just passed the bottom of the business cycle - we are on the road to recovery. Well, that's what i reckon. But do not expect that thing will change overnight. Do not think that out of sudden businesses are reporting huge jump in revenue and profit, or consumer confidence and job creation skyrockted etc. Get real, it takes a bit of time to feel the positive impact - assuming no more big scandal or crisis. Trust me, many local companies still keep their "headcount freeze" policy intact.
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WASHINGTON - The global recovery from recession has begun but countries will need to rebalance their economies to make sure it is sustainable, International Monetary Fund's chief economist, Olivier Blanchard, said Tuesday.
'The recovery has started. Sustaining it will require delicate rebalancing acts, both within and across countries,' he said in an IMF article, released in advance of publication on Wednesday.
Mr Blanchard cautioned that predictable models based on past recoveries from recessions would not apply to the worst global slump in seven decades.
'The world is not in a run-of-the mill recession. The turnaround will not be simple. The crisis has left deep scars, which will affect both supply and demand for many years to come,' he said. -- AFP
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