Asia Sentinel, 10 Oct 2009
Grave commentators in Asia as well as Europe and the US are warning that the global economy is not out of the woods, that a W rather than V-shaped recovery is in train. Disaster has been avoided but tough times still lie ahead.
On the other, stock prices are rising everywhere, gold is at new records, all commodities are up and even in London property prices have bounced back, and Australia has already started raising interest rates. Is this all just irrational exuberance? Or is the world really getting back to normalcy thanks to official stimulus and the natural buoyancy of Asia?
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