Article Image

IPFS News Link • Economy - Economics USA

Goldman Sachs Whistles Past EU Graveyard?


The Eurozone's problems are exaggerated – it won't be the centre of the next global crisis, argues Jim O'Neill ... Almost 27 months have passed since the collapse of Lehman Brothers; but judging by what I hear every day, the British public remains in a state of high anxiety about this country's economic future. In the aftermath of the credit crisis, that was understandable – but now that mood doesn't have to persist. The number of countries with lasting credit hangovers is declining. The world's economy grew close to 5 percent in 2010. And this year may see something similar. There are reasons to be hopeful. At the heart of the post-crisis global story is China and its consumer. The more gloomy commentators frequently allude to the fact that the Chinese consumer is only worth just over 35 percent of the country's overall GDP ... In fact, to other parts of China's economy booming over the last 10 years. It's hard to get a grip on the scale of this boom. – UK Telegraph

Dominant Social Theme: Frankly it seems a lot worse than it is. Just take a deep breath.