The World Economy in 2004
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Case Code: ECOA121 Case Length: 20 Pages Period: 2004 Pub Date: 2004 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : Global Themes: - |
Abstract Case Intro 1 Excerpts
Introduction
In its annual meetings in Dubai on September 23-24, 2003, the International Monetary Fund (IMF) predicted that the world economic growth would increase from 3.8% in 2002 to 3.2% in 2003 and 4.1% in 2004. Strong demand in USA, rapid growth in China, increasing business confidence in Europe and signs of recovery in Japan had led to this optimistic prediction. But even as the outlook for the global economy improved, some structural issues needed to be addressed. Excessive reliance on USA was one of the biggest problems facing the global economy. Since 1995, almost 60% of the cumulative growth in world output had come from America. If American demand were to drop significantly, the world would tumble into recession. At the same time many economists believed the scope for sustaining American demand was limited. Americans were spending far beyond their means, with their budget and trade deficit seemingly out of control. Meanwhile, Europe was having problems of its own...
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