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New Slumps Possible If Stimulus Withdrawn, UN Says
Source: worldbank.org
Source Date: Wednesday, September 15, 2010
Created: Sep 20, 2010

“Major world economies must maintain the fiscal stimulus policies they applied to break out of recession or risk another steep downturn, UN economists warned on Tuesday. In the UN Conference on Trade and Development (UNCTAD) annual report, they said the recovery of recent months was fragile and should be underpinned with steady efforts by all governments to boost jobs, domestic demand and infrastructure investment….”

The Times of India adds that “…while emerging market economies are leading the recovery, upturn in developed countries is weaker and resembles the pre-crisis build-up of global trade, with current account imbalances still in place….

The Trade and Development Report 2010 said that developing countries should not depend much on the export market to achieve growth and create employment….Therefore, the report said, policies for sustainable economic growth, job creation and reduction in poverty should be based on establishing a balanced mix of domestic and overseas demand….” [The Times of India]

The Guardian writes that “…the report said that after a contraction of 2 percent in 2009… the world economy would grow by about 3.5 percent in 2010, spearheaded by the three leading developing countries of China, India and Brazil. Africa's growth rate is expected to be 5 percent, with even faster expansion of 6 percent penciled in for sub-Saharan Africa….”
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