With little chance that China will be able to increase its consumption rate to compensate for increased U.S. savings rates, the world may face a period of slower growth.
The United States must look beyond short-term goals if it hopes to maintain its economic vitality in Asia. Its regional stake will be challenged by China, whose relative rise has been accelerated by its effective response to the global crisis.
In the wake of the global financial crisis, the Saudis cannot be comforted to know that their economic fortunes are so closely related to events beyond their borders. The Saudi leadership will look to the G20 process to help make these markets less volatile and easier to navigate.
This volume analyzes the impact of the current global economic crisis on key Asian states and explores the strategic implications for the United States.
Though the Maghreb escaped the first wave of the global economic crisis and its growth expectations for 2009 are positive, dramatic falls in commodity prices and world trade will continue to present serious challenges in the coming months.
The economic crisis has devastated the Russian economy, where GDP is expected to contract by nearly 10 percent in 2009. Despite optimism among government experts, ballooning debt and plummeting revenues threaten the recovery effort.
World leaders meeting at the G20 summit in Pittsburgh must tread carefully as they plan to withdraw government stimulus from their economies and insist that countries enact reforms needed to prevent a future crisis.
Propelled by massive monetary and fiscal stimulus programs, China’s economic rebound outpaced even optimistic predictions, putting the government’s target of 8 percent growth in 2009 within reach.
The number of hungry people around the world recently topped one billion—a full 15 percent of humanity. New evidence now suggests that investment in agriculture is essential to combating this growing global crisis.
Widespread government stimulus and increasing Chinese demand has powered Asia to the forefront of the global recovery, proving that the region has the capacity to fuel its own economic growth.























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