APRIL 2009

The protectors of the global economy are still contracting their packages to revamp the dilapidated financial system which is sustaining the recession period based on liquidity crisis.

The proposed G 20 summit in London in April has attempted to apply some back gear to the ever growing recession being felt even by developed of the world. Before them there are two pertinent issues which has dominated their deliberation and bailout discussions. One to revamp the banking system, tackle their toxic assets and reduce their non-performing assets. The second, to adopt measures which my assist the managers to apply correction bringing the market sentiments to the pre-meltdown phase.

Actually, both the prescriptions being suggested by the Europeans and US have found on unequal level. Whereas Europeans have clamoured to adopt new economic regulations, the US managers were more interested in global co-ordination of firefighting. This may bring to focus the relevance of marketing system which was adopted by US and emulated by global players. In other words, the capitalism which influenced the wide spectrum of world economy has come under sever scrutiny. The relevance of regulated economic system has drawn the attention of world leaders to bring some correction in the growing economic crisis.

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