Is the world economy coming to an end?Nigerian Newspapers Blog
Blog | ( 4 ) | Subscribe | Post a comment Posted by Felix Okoli on June 02, 2012 at 01:23:33:
For a couple of years now, we've been talking about global recession and somehow it has slowed down the world's economy including that of China. Now countries are Europe are still facing an economic instability with the eurozone and euro currency threatened by failures in Greece and weaknesses in Spain and Italy. The euro has token a nosedive since January falling from as high as 1.35 to as low as 1.23 this May. Will the euro survive and will Europe rise again? Now one knows for sure but if she fails, it would affect the world's economy at large including that of the USA which barely has already started recovering and China who are major exporters into Europe. There could be an imbalance in the world economy as it can hardly grow without Europe where the bulk of trade happens on a daily basis. Now, most banks and countries are held up with dwindling debts that keep rising and investors are losing confidence. If Europe fails, the USA may also fail and growing or emerging economies may be the last hope for the world's economy. It could also lead to social conflicts in the world since most countries involved in supporting peace missions may be forced to withhold their funds as an austerity measure.
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