Europe, NA, and Japan are already out of recession and have been for about 4 consecutive quarters now.
The problem is sluggish growth and the fear of dipping back into recession. Really, there are three different areas with totally different problems and solutions. Japan's economic malaise started again when the global economy went south. The Japanese government has to somehow find a way to crank up growth by reducing deflation (occurring for the 17th month I believe), slow down an aging workforce, fix over-dependency on exports and weak domestic demand. It's going to take a miracle to fix all of this.
The US, on the other hand, has problems with unemployment and slipping consumer spending/confidence--the main driver of our economic growth. Not to mention the ballooning public debt which will need to be painfully tamed in the future.
Europe,ehhh. It's separated on the issue of to provide more stimulus (prime example France) or to restrict government spending (David Cameron--UK, Merkel too), member nations that may need to be 'rescued' or will succumb to their debt such as greece someday, etc. Europe's solution, hard to predict, well for me anyways.
· 9 years ago