The Chinese Boost
Posted on January 5, 2010 by Shay Greenberg for Luckyroom.com
The last decade reached its end; a decade that “opened” the explosion of the internet sector so called dotcom and ended with the great crisis which led Britain, the United States and other industrialized countries in the most painful recession during the postwar period. During this decade a profound change was launched; the rise and the emergence of China and other major emerging economies, as noted in a publication of «The Observer». While many economists are accustomed to the idea that the U.S. is the locomotive of the world economy, China’s massive fiscal package launched last year, achieved to gain ground and help remove the rest of Asia and other countries such as Germany, which export machinery in China, from recession. China was one of the primary reasons this recession was not as severe as many have figured it out to be.
And its not just China; there are other prosperous Asian countries like Thailand, South Korea, Malaysia and Taiwan that have contributed. Key emerging countries now include Brazil, Russia and India. The rising power, together with that of China, stands in sharp contrast to high-risk European economies such as Portugal, Ireland, Greece and Spain. China, Brazil, Russia and India currently represent 15% of the global economy, more than half the size of the U.S. altogether. However, it should be noted that although Asia has helped the world to emerge from the recession still lurks in the risk of social upheaval as unemployment and inequality has increased despite the fact that it is helping economies recover. Many political analysts warn that 2010 may be hiding unpleasant surprises for the specific region.
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