../Morning Post
Posted November 16, 2009
Global Economy

Global Recovery Faces Serious Hurdles Next Year

"The global economy faces serious hurdles next year including 'large-scale' unemployment in rich nations, asset bubbles, and backsliding towards protectionism, the World Bank chief said Friday. In a sobering assessment of the fragile status of the economic recovery, Robert Zoellick outlined a list of potential pitfalls to a business forum on the sidelines of an Asia-Pacific summit...." [Agence France Presse/Factiva]

Xinhua adds that "...high unemployment is likely to cause 'second-wave effects' to financial institutions as problems will continue in consumer loans, credit card loans and mortgages and sometimes commercial properties, Zoellick said.... He said rising unemployment will also prompt political leaders to raise barriers and take up protectionism measures to defuse political pressures...." [Xinhua/Factiva]

AP writes that "...Zoellick said that another little-mentioned risk was the specter of inflation in the Asia-Pacific region after central banks moved to 'open the tap of liquidity' in the face of the crisis.... Zoellick said that if central banks follow the Fed and keep rates low they risk triggering inflation, but if they opt for rate hikes their currencies will appreciate and make their crucial export sectors less competitive...." [Associated Press/Factiva]

Submit press release to pressrelease@exchangemagazine.com - Editor Jon Rohr - Content published on this site represents the opinion of the individual/organization and/or source provider of the Content. ExchangeMagazine.com is non-partisan, online journal. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2009/*.*. Additional editorials, comments and releases are copyright of respective source(s) and/or institutions or organizations.


Contact a Account Manager

Current Issue November/December 2009
Subscribe to Exchange Online today

Subscribe to Exchange News Daily

Top North American

New York

Submit Press Release
Visitor Centre
Advertising Inquires
Tel: 519.886.0298

Subscribe to Exchange Magazine Print Edition

Contact Information:

Exchange Business Communication Inc.
Waterloo, Ontario, Canada
Tel: 519.886.0298

Jon Rohr

Account Manager
John Hobin