Out of recession.!!

Finally, the world appears to be getting out of the recession. Officially, France,Germany and Japan have got out of the recession as they have recorded growth in the last quarter. The pace of contraction in the US has slowed down and its expected to be just 0.5 % in present quarter with the resumption of the growth story from the next quarter. It appears that that the massive stimulus package of countries like US , china and japan has worked to save this world from another great depression. The crisis had even affected emerging economies like India, China etc .

The world has felt the aftershocks of massive finacial upheaval in the US primarily due to the integration of the world financial markets. It needs to be seen as an opportunity to revaluate our business practices .we can have a world financial stability forum which needs to advise governments about the emerging macroeconomic risks. The lessons learnt from the great depression of the 1930s has helped to lessen the impact of this crisis. This crisis has made us realize the perils of improper risk management and unending human greed. It is hoped that we dont repeat these mistakes and follow sustainable business practices for economic development.