Global Economic Slowdown and Stimuli
September heralds the dreary season of winter in the North. September of 2008 heralded a dreary economic period for the world as a whole, which unlike a few months of winter, could last for a few years. Many countries do not expect an economic recovery before 2010, and that too a slow one. According to IMF’s World Economic Outlook April 2009, while the world is on average in a recessionary phase, all the countries are not; and notable among the latter are China and India. But all countries are experiencing a slow-down and almost all have put in place stimulus packages to mitigate its effects.