CAUSES AND CONSEQUENCES OF THE 2008-2009 INTERNATIONAL FINANCIAL CRISIS
Eugen Andreescu and
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Eugen Andreescu: Romanian Academy, Bucharest
Simona Moagar-Poladian: Romanian Academy, Bucharest
Revista Economica, 2012, vol. Supplement, issue 1, 25-29
The paper investigates the current crisis and its major consequences in a shifting world. Originated from the USA, the crisis spread in the world and disturbed its power distribution. The emerging countries development of the last two decades illustrates the catching-up process. The findings also confirm the increased role of the Chinese economy today. The Chinese growth in comparison with the USA economic path is a mirror for the future world architecture. The consequences of the international financial crisis are focused on the fact that the developed countries will lose gradually their privileges in the shifting of economic power.
Keywords: crisis; catching-up process; new world (search for similar items in EconPapers)
JEL-codes: G01 N10 O57 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:supplement:y:2012:i:1:p:25-29
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