Monday, January 21, 2013

Is The Global Economy Now In Recovery?

The latest economic news from China, the world's biggest export nation, is that at year end, exports rose from the prior quarter. Some economists believe this increase in exports is a clear sign of things getting better around the globe because China exports to almost everywhere. But in fact this may be little more than an increase in toy and other production to accommodate the holiday season.

A global economic recovery would be wonderful, but the deep economic morass that has gripped us was a longtime in coming and was based upon vast excesses of speculation and in the massive spending of money a lot of nation didn't really have, thrusting many of them deeply into debt and creating bills they can't afford to pay.

All of our economic problems can and eventually will be solved, but we won't solve them until we all address them, rather than allow the people of a handful of nations to suffer. The causes were based upon shared actions and so will be the solutions.

To learn more, please see "Quarterly Growth Rebound Gives China a Boost," The Wall Street Journal

No comments: