{"product_id":"world-economic-situation-and-prospects-2008","title":"World Economic Situation and Prospects 2008","description":"\u003cp\u003e\u003cspan\u003eAccording to \u003c\/span\u003e\u003cem\u003e\u003cspan\u003eWorld Economic Situation and Prospects 2008\u003c\/span\u003e\u003c\/em\u003e\u003cspan\u003e (WESP 2008), the global economy faced significant challenges in sustaining the strong economic growth achieved over the preceding years. The report forecast a moderation in world economic growth in 2008 and highlighted several downside risks, including the bursting of the United States housing bubble, the unfolding credit crisis, the decline of the US dollar, global economic imbalances and high oil prices.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eThe report draws lessons from the global financial turmoil of 2007, triggered by the collapse of the US sub-prime mortgage market. It observes that measures adopted by central banks in major economies did not address the underlying causes of the crisis, particularly the substantial global imbalances.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eAn alternative scenario considers the possibility of a sharper decline in US house prices and a hard landing of the US dollar. Under this scenario, the United States could enter a recession, resulting in significantly lower global economic growth than projected in the baseline forecast.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eIn addition to examining international trade and capital flows, the report discusses developments and policy issues concerning international trade negotiations and reform of the international financial system.\u003c\/span\u003e\u003c\/p\u003e\n\u003ch2\u003e\u003cspan\u003eKey Features\u003c\/span\u003e\u003c\/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003eExamines global economic prospects and growth forecasts for 2008.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003eAnalyses risks arising from the US housing market downturn, credit crisis, dollar depreciation, global imbalances and high oil prices.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003eDraws lessons from the 2007 global financial turmoil and examines the policy responses of major central banks.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003eCovers international merchandise and services trade, commodity markets and trade policy developments.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003eExamines financial flows to developing and transition economies, including foreign direct investment and development assistance.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003eDiscusses international financial cooperation, debt relief and reform of the global financial architecture.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cspan\u003ePresents regional economic developments and outlooks for developed, transition and developing economies.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch2\u003e\u003cspan\u003eProduct Details\u003c\/span\u003e\u003c\/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003eAuthor\/Organisation:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e United Nations\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003ePublisher:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e Academic Foundation\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003ePublication Year:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e 2008\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003eLanguage:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e English\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003eFormat:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e Paperback\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003ePages:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e 192\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cspan\u003eISBN-13:\u003c\/span\u003e\u003c\/strong\u003e\u003cspan\u003e 9788171886920\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"United Nations","offers":[{"title":"Default Title","offer_id":68166075253057,"sku":null,"price":595.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0938\/9067\/5009\/files\/PROSPECTS.png?v=1793773562","url":"https:\/\/www.academicfoundation.com\/products\/world-economic-situation-and-prospects-2008","provider":"Academic Foundation | AF Press","version":"1.0","type":"link"}