The World Economy in 2004
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Case Details:
Case Code : ECOA121
Case Length : 20 Pages
Period : 2004
Organization : -
Pub Date : 2004
Teaching Note :Not Available
Countries : Global
Industry : -
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
USA
In late 2003, the recovery of the US economy was gaining momentum. The economy grew impressively in the third and fourth quarters of 2003. But America's national savings rate had reached an all-time low. The federal budget had shifted from a surplus of over 2% of GDP in 2000 to a deficit of over 4% of GDP in 2003. The country's current-account deficit had been rising fast, and was running at over 5% of GDP, a historic high.
At the end of the 1970s, after decades of almost continuous current-account surpluses, the US was a creditor country, with a net stock of foreign assets worth about 10% of GDP...
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Japan
Japan's economy had barely grown for a decade, the worst performance of any rich country since the Great Depression. Both unemployment and public debt levels had doubled over the past ten years. Between 1997 and 2002, Japan's economy had shrunk in nominal terms from Y523 trillion to Y500 trillion (Economist, September 27, 2003). The subsequent recovery had been tentative and economists doubted whether sustained growth was round the corner...
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Germany
Germany had long been considered the economic engine of Europe. It was one of Europe's richest nations till the late 1980s.
But in 2003, Germany's GDP per head fell 1% below the EU average, when measured at purchasing power parity. Only four of EU's 15 members had a lower per capita income.
The German economy had been stagnant for three years. It was the weakest economy in a region with many weak economies. In 2003, unemployment was running at 10%... |
Excerpts Contd... >>
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