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Chandrakanth M

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Is crisis good in its own way ??

Great depression, Asian crisis, Lehman’s failure and the latest euro zone debt issues; though have had major Impacts on the growth on certain economics of some countries, lessons learnt from these crises have helped many emerging economies.
It’s only in crisis, when countries will realize their real growth against the inflated growth and the necessary actions or reforms which are needed.
It’s only in crisis, when countries will have a chance to know the importance of their neighborhood countries which can mobilize foreign investments and increase cross border transactions to help the economy of the affected country.
It's only in crisis , when countries will understad the importance of the financial architecture and the after affects of complex financial products

My question : Is crisis good in its own way ??

Topics: global economics
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    David Barnett 20+

    • +2
    Feb 5 2012: If there's a crisis it's because something is going wrong somewhere. If the crisis persists it's either because the problem hasn't been properly identified or those who created it haven't changed their behaviour. The present crisis in Europe and America owes its present situation to both of these. The problem is that everyone who counts in the decision-making process has been paid off and the thieves are still filling their pockets. Personally, I cannot see this is going to change for at least another 15 years.
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      Chandrakanth M

      • +1
      Feb 6 2012: David , you are correct.

      There are still deep pockets , which have excess money , while the economy is on slower pace.
      Its an clear indication of parallel economy or un accounted economy.

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