IESE Professors Analyze the World Economy
Six IESE economics professors provided their perspectives on the global economy recently in a session titled "What Can We Expect in 2007?" The event took place during a special presentation of IESE’s new campus buildings to school alumni. IESE Dean Jordi Canals opened the session and Prof. Antonio Argandoña was moderator.
In his remarks, Prof. Juan José Toribio said that the world’s current economic growth rate is the highest it has been in 30 years. Growth is being fueled chiefly by the Asia-Pacific zone and the United States, while Europe is lagging far behind.
Toribio said that "up until a short time ago, we had a very pessimistic monetary policy, particularly in the United States." He said that Asia’s excessive savings and globalization are reasons behind a lack of high inflation, but warned of the significant deficit.
Toribio went on to say that "the drop in the real estate market in the United States has been coming since 2005," but this has not affected the economy as much as some have expected.
See full Summary.
Posts
