Can it be…the recovery?  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 402 no. 8776 (Mar. 2012), page 11.
Topik: Economic Recovery; Economic Conditions; Global Economy; Budget Deficits
Fulltext: The Recovery- Print document - ProQuest.pdf (36.86KB)

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After so much gloom, it is hardly surprising that the world's animal spirits are beginning to leap again. Yet there are good reasons to be wary of all the optimism. Global growth, dragged down by less ebullient emerging economies as well as recession in Europe, is still likely to be slower this year than it was in 2011. European countries need to stop focusing so intently on austerity and instead do more to generate growth. The ECB's liquidity injections have successfully bought time for indebted governments, but for permanent relief the euro zone needs to build institutions that allow joint liability for government debts balanced with fiscal discipline. America's priority should be to craft a medium-term plan which puts the budget deficit on a downward path without snuffing out the recovery. There is, unfortunately, not a chance that it will do that before November's presidential election. China's economy remains too reliant on investment rather than domestic consumption. Rather than encourage the building of roads and railways, any stimulus this year should push cheap housing and higher wages, as well as pensions and health spending.

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