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American economy - Good Times, Bad Times
- 1. GOOD TIMES, BAD TIMES
- 2. OVERVIEW2 History American economy The Bretton Woods system Financial Crisis Recession IMF Current situation Latest news Conclusion Sources
- 3. HISTORY 1944: Bretton Woods agreement Debtor countries Solution: Eliminate imbalances Creditor & debtor PROBLEMS! The world's biggest debtor nation? 2007: Financial crisis 3
- 5. HISTORY 2008-2009: Recession The theory: Debtor Creditor IMF = International Monetary Fund Raison Imports and exports back into balance 5
- 6. CURRENT SITUATION The downside of the system Little traction? “go nuclear” Impose trade barriers Fear: High unemployment Crippled housing market Social & political headache 6
- 7. CURRENT SITUATION Revaluation of the Yuan Magic bullet? US manufacturing base Difficulty? Private sector Government 7
- 8. LATEST NEWS So what happens now? China A medium-term plan A five- or 10-year period During the meeting of the IMF (October): More balanced pattern of global growth Recognising the responsibilities of surplus Deficit countries 8
- 9. LATEST NEWS After the meeting of the IMF Closer to pushing the nuclear button Jobs figures fragility of the economy Meeting impotence of the multilateral system US house prices Consumer confidence 9
- 10. CONCLUSION Uncertain Housing market IMF Towards an economy that can handle the future! 10
- 11. THANK YOU FOR WATCHING THIS SLIDECAST!
- 12. SOURCES Guardian http://www.guardian.co.uk/business/2010/oct/11/imf -talks-currency-wars BBC news http://www.bbc.co.uk/news/business-11598053 http://www.bbc.co.uk/news/business-11628871 12