Introduction

In last week’s column I completed a brief description of the ten most important channels through which the negative effects of the global financial crisis and economic recession, which erupted in 2008 impacted Guyana and Caricom. That crisis is now referred to as the Great Recession, indicating its harsh severity and at the same time its lesser destructive effects than the Great Depression of the 1930s.

I had also indicated the five major challenges, which the global economy presently faces. Put succinctly, these centre on re-setting globalization on a sustained path of explosive expansion through minimizing periodic capitalist market crises as well as excessive and irrational waves of private over-speculation and excessive risk-taking. In my…..