The Global Economic Crisis after One Year: Is a New Paradigm for Recovery in Developing Countries Emerging?

Wim Naudé
Content Type
Policy Brief
United Nations University
T HE ECONOMIC DOWNTURN AND RECESSION, WHICH spread across the globe following the US sub-prime mortgage crisis in September 2008, has become the dominant news topic of the past year. One year into the crisis it has become clear that the paradigm for international development has changed irrevocably. With leadership, moral authority and the capacity of the West diminishing, developing countries' recovery and future growth will critically depend on their own initiatives and solutions.
Economics, Globalization, International Trade and Finance, Financial Crisis
Political Geography
United States