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On World Economy... - start of the American Decade, 2012

These are not quite the times to be speaking of economies or economics, leave alone that of the World. The weary aftermath of the great downturn of 2008-2010 followed by a series of aftershocks are still being felt across continents. The recent deceleration of the emerging markets, those that arguably bailed out the Globe during the dark days of 2009-2010, is another grim surprise. China, that looked invincible just a couple of years back, is stuck in a low growth phase. All the cockiness that was India just about 20 months ago has gone into quiet introspection. Brazil and Russia never made too much noise and hence are excused for the general slowdown that their economies are going through. Africa is probabaly the only exception. If anything, there is widespread realisation that the World is ever more inter-connected and the developed World needs the emerging one as much as the other. It, therefore, takes great courage or utter foolishness to make a prediction going forward. Yours trul