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WORLDVIEW: The upcoming global recession will smack SA
It has been a decade since the vicious Great Recession ravaged the economy and, by many measures, we have never actually recovered from that recession.
By Felicity Duncan
It has been a decade since the vicious Great Recession ravaged virtually every corner of every economy in the world. The global economy has been steadily expanding since then, but the bitter truth is that, by many measures, we have never actually recovered from that recession.
Since the recession, many asset markets remain below their peaks β house prices, in particular, have not recovered in many markets. Much of Europe remains recessionary because there the financial shock that triggered the Great Recession β the collapse of the US housing market β also triggered a serious sovereign debt crisis.
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