This page deals with economics and business issues,concerning Latin America, and the global economy.-
Friday, December 21, 2012
Looking back to 2012: A transition year
The 2012 was the year of adjustments: Economic, social and political ones. The global economy did worse than previously thought. Advances economies are projected to grow by 1,3 % this year, compared with to 1,6% last year. Emerging markets and less developing economies are in the range of 5,3% down from 6,2% last year. World trade growth is projected to be at 3,2 % down from 5,8% last year. The Euro area is expected to decline by 0,4% this year. Latin America and the Caribbean will be in the range of 3,2% -3,9% for 2012 -2013 respectively, down from 4,5 in 2011.(IMF ,October 2012)
All of these downward movement in growth rates, comes along as uncertainty was the key input to consider for both policy makers and economic agents in decision making process . Thus, after too much of adjustment policies , 2013 is expected to be the year of upwards (BRIC´s countries ,Latin America ,and Japan) ,and downward corrections (EU(fiscal austerity) and USA(fiscal cliff) ). Of course the final effect between those two opposite directions, will be known as 2013 rolls on. Besides, it is also possible that depending upon the focus, all of the factors can become upwards movements.
Social and political adjustment because there were democratic elections (Mexico, USA; Venezuela, Japan), and in some cases change in political leaderships (China) ,which will probably influence perceptions concerning global governance. Whether will it be for better or worse, 2013 will say its last word.-
So 2013, is just around the corner and it looks like a unique occasion of reshaping history , at least for the rest of the decade. Am I going too far? .The 2013 will have the last word. So let see, what surprises brings up to us the next year.