No 212: UCL Conference. Global Economic Outlook. Part 1.

   On 10 December the economic conference was held in UCL and some Bellerbys students found it particularly interesting to visit. One of the presentations was made by Dr. Linda Yueh who was investigating the global economy and the engines of growth of countries nowadays.
   In her presentation "Global Economic Outlook: Engines of growth", Dr. Yueh discussed several issues of modern economy that we found really important.

  As can be seen from this graph, the recession in the period between July 2008 and March 2009 mostly affected high income countries that managed to start recovering far later than developing countries. However, it is evident that the speed of recovery was almost equal in all the countries covered by the research. Moreover, if to compare the patterns of developing countries before and after July 2008, it was Chinese economy that made their economic growth slower before the crisis, nonetheless, it was Chinese economy that caused the most part of development afterwards.
  It is remarkable that according to the World Bank data, high income countries have entered the stage of new recession, whereas developing countries are continuing to grow. Yet, it is quite difficult to predict whether  these trends are going to continue in the future or not.
By Galeeva Dariya and Zaytseva Alina.