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Countries such as India and Brazil have largely put the downturn behind them.
They would be happy to settle for modest growth, and putting the worst of last year's downturn behind them.
They would be happy to settle for modest growth, and putting the worst of last year's downturn behind themOne source of new business which has been strong and may continue to strengthen is the public sector.
In addition, that crash became the impetus for a "never again" policy that led the government to accumulate a huge currency reserve — the third largest in the world going into the current downturn, behind China and Japan.
"Although the worst of the labor market downturn seems behind, many people remain worried about the possibility of losing their job," he said, adding, "consumers seem to be getting increasingly concerned about the income implications of future fiscal tightening".
Kim Sun Bae, an economist at Goldman Sachs in Hong Kong, said, "We believe these data reaffirm our view that the worst in the cyclical downturn is already behind us, with stronger export growth bolstering domestic demand.
AOL was driven to such obscene financial folly by the need to meet its incredible 2001 revenue guidance of $40 billion amid the sharp advertising downturn, the gremlin behind so much of the AOL online service's shenanigans.
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