Sunday, March 15, 2009

World In Simultaneous Recession

The burst of the credit bubble in U.S. in Sept. 2008 swept the whole world into a simultaneous recession. The vibration of it was so great and the scale so shocking that that it was dubbed "financial tsunami" of the century.

In a matter of less than two months after the collapse of the major investment banks in U.S., the fierce waves of the financial turmoil engulfed the whole world. Multiplying effect spread fast and soon domino effect set in, taking the whole world down to a recession.

At a fellowship gathering of MAF of Ai Ming Methodist Church on March 7, I gave a talk on this global burning issue.

Looking at it with a global perspective, I dealt with the subject broadly by touching on three pertinent areas: 1. The underlying factors giving rise to the financial tsunami; 2. The speeding up of the global shift of economic power from West to East, and 3. The bumpy recovery road ahead.

The 45-minute sharing was relevant to all of us.

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