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Summary on the credit crunch at the Pacific Econ Conf. in Russia

“The environment in the global economy has gone from a US based recession to a global credit crisis to a financial panic.  Although we have seen the worst of the crisis pass, the residue is strong and will take years to resolve.  Monetary stimulation by central banks around the world will help get economic growth going again, but growth is unlikely to return to the levels of 2007 for at least two years.  The sins of the past remain with us, but we hopefully have learned from our mistakes.”

 

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This entry was posted on Friday, July 24th, 2009 at 6:49 am and is filed under Economy, International Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Summary on the credit crunch at the Pacific Econ Conf. in Russia”

  1. Anna Says:
    July 28th, 2009 at 7:00 am

    Dear Mr. Busch,

    Your speech at the conference was really very interesting. I wonder if you could publish the whole report.

    Thanks,
    Anna M. (from Vladivostok)

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