Has the Global Economic Recession Ended?

Task 4a & 4b p.157

Has the Global Economic Recession Ended?

  September 6^th the G-20 Economic Conference were concluded in St.Petersburg, and they delivered     a message: The global economy is getting better. USA announced that their economy had grow by    1% through 2013, while China said their economy had grown by more than 7%.

       

 The World Bank projected an expansion of the world economy in 2013 with 2.4%. This was      different from their statement in June, when they projected an expansion of about 3%, and that it  would contine to expand until it reached 3.3% in 2015. But reports showed that in 2012, 4 years after  the financial meltdown on Wall Street, there is no end in sight for the economic recession.

   

            Even  though economic growth has stalled or turned negative in much of the world since the bank  relased its previous report in June, stock prices have actually soared in the so-called “developing  countries”. Stock markets were up by 12.6% , and the equity markets in the high-income economies  in North-America, Europe and Japan have risen by 10.7%

 But then, The World Bank cuts its projected growth again, and comes out with a statement for the  next year, just like they did in June (2013) only this time, the numbers are even lower. From the  projected 3.3% in 2015, down to 3%, and the growth for Japan’s economic is halved.


All this is examples of what happened in the time period between the fall of Wall Street and now. In present time, the economic recession in the USA has gone for the better, but South and East Europe is still struggling. They are to this day battling depression-era levels of unemployment. But not only them. The growing economic countries like China have had a halt in their growth to, they went down with at least 3%.

The highest estimated % of unemployed people are found in Liberia

Youth unemployment is highest in Greece by 55.3 %

Most of the working people that has an income that falls between the poverty line lives in the USA, but it should be noted that most people that do not work and still are poor lives in Ireland.