Why Economic Slowdown
My Dear FriendsI happen to attend the seminar on global crisis by Dr. Jean-Pierre Lehmann, Professor of InternationalPolitical Economy, IMD Lausanne, Switzerland & Founding Director of The EVIANHe did throw light on following issues.
What do you need to do effectively in these turbulent times? What issues are keeping top executivesup at night in this global crisis? What are the prospects for globalization and implications for India?
I am here with highlighting the crux of it.1.
The global business environment has undergone the most profound transformation sincelast two centuries2. Driven by the global market and ICT revolution3. Collapse of the first and second /third world paradigm4. The dramatic re –emergence of China5. The emergence of multiple new actions and instruments –eg: Mittal steel, Google, CNOOC,SWIF, etc6. The closing of the developing –developed countries gap7. With significant global benefits-but very unevenly spread8. Unprecedented opportunities and threats.The reasons for global crisis are :1) Excessive Liquidity and Cheap credit2) The “Chimerica effect”3) Absence of rules and oversight4) Institutional deficiencies