25 May
World economy stabilizing, says Krugman
The world economy has avoided “utter catastrophe” and industrialized countries could register growth this year, Nobel Prize-winning economist Paul Krugman said on Monday.
“I will not be surprised to see world trade stabilize, world industrial production stabilize and start to grow two months from now,” Krugman told a seminar.
“I would not be surprised to see flat to positive GDP growth in the United States, and maybe even in Europe, in the second half of the year.”
snip
“In some sense we may be past the worst but there is a big difference between stabilizing and actually making up the lost ground,” he said.
“We have averted utter catastrophe, but how do we get real recovery?
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