<h3>Global Financial Crisis on the Mend</h3>
Finally there is some good news vis-à-vis the much talked about – nay, incessantly whined about – global financial crisis. The peak was around 3 years ago but since then there have been signs of improvement, albeit at a snail’s pace and still necessitating significant assistance according to Sultan bin Nasser Al Suwaidi, a governor from the UAE Central Bank.
<h3>Price of Global Recovery</h3>
But there’s no such thing as a free lunch, right? Such a recovery attempt is going to come at a price for the local man in the street who will be kicked in the gut by inflation and potential poverty. There have been such major losses on worldwide stock exchanges (to the price of $30 trillion) that no one is living on Easy Street these days. Word on the street is that recovery will only come as a result of “global efforts.”
<h3>China Doing Well, Relatively Speaking</h3>
On the other hand, China is making quite a mark. It is expected that the Asian country will be able to “maintain GDP growth of 8 percent over the next 20 years, which will make it the world's biggest economy," according to the bank’s senior VP and Chief Economist, Justin Lin. Indeed in the next couple of decades it may even become the “world’s biggest economy and “the same size as that of the US at market exchange rates in terms of nominal GDP.”
So while the world economy gradually tries to pull its feet up off the ground and remain there for a while, at a high cost to its citizens, China is growing in leaps and bounds. Who knows what will be with Japan, following the recent disaster? But at least one country in Asia today has what looks like a bright future ahead. Since no one can see into the future however, only God and time will tell if this prediction will actually be realized.
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