A Retiring Glance At Trade – Past, Present And Future
As my tenure at UK Trade & Investment draws to a close, it’s time for a little reflection…
23 October 2008
The credit crisis has entered a new phase. Over the summer, rising inflation was the major worry. The focus is now on preventing a prolonged global recession. Bold and coordinated moves by policymakers appear to have pushed the global economy back from the precipice. Yet history suggests that deflating asset bubbles/financial crises generally result in deeper and longer downturns. If 2008 was defined by inflation and volatility, 2009 will be defined by unemployment and financial consolidation for households and business.