As 2010 ends, global economy in better shape
PRESS TRUST OF INDIA
New Delhi, Dec 19: As 2010 draws to a close, the health of the global financial system appears to have improved, with the economic clout of emerging nations on the rise even as developed countries continue to grapple with debt woes.
Ushering in the New Year, the global economy seems to be in the middle of the worlds of austerity and stimulus.
In signs of improvement, the world economy is estimated to have expanded by around 5 per cent this year, in sharp contrast to the lower output witnessed in 2009.
On either side of the Atlantic, the efforts to contain fiscal deficit and bolster economic growth have been in different trajectories. While crisis-hit Europe is clamouring for severe tightening measures, the United States continues to print more dollars.
Lastupdate on : Sun, 19 Dec 2010 21:30:00 Makkah time
Lastupdate on : Sun, 19 Dec 2010 18:30:00 GMT
Lastupdate on : Mon, 20 Dec 2010 00:00:00 IST
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