Leaders, Fight the Economic Tempest Together
Wolfgang Münchau, Financial Times | February 9, 2009
Whether or not the current economic situation is a depression depends on one’s definition of the term. ++ What is certain is that global trade and growth have been in freefall for the last couple of months. ++ The expected reaction from world leaders was coordination but this never materialized; instead "policymakers have wasted almost five months during which most of the debate has been focused on the size and shape of domestic stimulus packages." ++ Should this continue to be the approach, then depression it will be.
