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World Economy Review
Essay specific features
Written by:
Jess M
Date added:
January 16, 2012
Level:
University
Grade:
B
No of pages / words:
4 / 1043
Was viewed:
5122 times
Rating of current essay:
Essay content:
That alone could drag Western economies’ growth rates down by 1.5 percentage points. Without government action along the lines of America’s $700 billion plan, the IMF reckons credit could shrink by 7.3% in America, 6.3% in Britain and 4.5% in the rest of Europe.. That will cushion the world economy but may not save it from recession...
displayed 300 characters
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That will cushion the world economy but may not save it from recession.
Reasons for unwelcomed recession
1. Oil prices
2. Tighter credit
The author says that history teaches an important lesson: that big banking crises are ultimately solved by throwing in large dollops of public money and that early and decisive government action, whether to recapitalize banks or take on troubled debts, can minimize the cost to the taxpayer and the damage to the economy...
displayed 300 characters
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