‘A truly-global crisis!’
Utilizing the IMF’s terminology for the economic classification of countries worldwide, as a group the “emerging economies” have been clearly out-performing the “advanced economies” during this protracted period of global economic recession, financial crisis and credit squeeze. Because of this and other considerations, I have challenged elsewhere, the accuracy of, and thus the misplaced emphasis arising from, labelling the economic crisis as ‘truly-global,’ in a distinct, meaningful, and unprecedented sense. To be truly-global,
