| Topic : Impact of recession on IT sales |
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Indian Telecom Professionals
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last activity : 07 06 2010 20:18:04 +0000
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The US professor nicknamed " Dr.Doom" forecasted that global recession could last till 2010 end or longer.
New York University professor Nouriel Roubini speaking at a New Delhi Conference said that
- The United States, Europe and Japan must "get their act together" to avoid the global economy sinking further.
- People were hoping it would be a V-shaped recession - a sharp fall, followed by an equally quick recovery, But we are in the middle of an ugly U-shaped recession.
- The length of time the world economy will continue to contract would last a minimum of three years starting from December 2007.
- There is "one-in-three chance" that recession would turn into an 'L' - a prolonged period of stagnation or shrinking output, coupled with falling prices as demand dries up.
- People say when the US sneezes, the rest of the world catches cold. In this case, the US is just not sneezing, it has a severe case of chronic pneumonia. But we all sink or swim together and there is no way policy action in emerging economic giants India and China can pull the global economy out of the slump.
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