Economies were reporting positive growth of Gross Domestic Product (GDP) in the third quarter of 2009:
China’s economy expanded 8.9%.
Hong Kong’s economy grew 0.4%.
South Korea’s economy grew 2.9%.
Singapore’s economy expanded14.9%.
USA’s economy expanded 3.5%.
The latest to announce the third quarter result was the 16-nation Eurozone nations. The Eurozone nations climbed out of recession in the third quarter with a growth of 0.4%.
The major economies have seen the worst since March 2009 and were showing signs of real growth in the GDP for the third quarter ended September.
The International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn said on 13 November in Singapore that the global recovery remains fragile. He doesn’t expect the economy to experience a double-dip recession.
If this is the case, we can be cautiously optimistic of global recovery in the economies of the world. Unless there is another major shock, we can expect some stability in the financial markets. The one worry now is whether there will be asset bubble forming because of the loose monetary policies adopted by most nations to tackle the economic crisis since last year.
Written on 11/14/2009 8:26 PM
Copyright © 2009, the author known as LKT in Singapore.
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