One
year after the financial conflagration that devastated Wall Street and burned
financial institutions around the globe with a credit binge that brought us the
credit crunch, the world economy seems to be shifting gears. It has gone from
reverse to neutral. US President Barack Obama caught the mood at the Group-20 Pittsburgh
Summit last month saying “because of the bold and coordinated action that we
took millions of jobs have been saved or created, the decline in output has
been stopped…”.
