we have had a mild recession , the US and europe have had it tougher only because they had more bad debts, asia generally is well positioned with its cash surpluses and grwoth movement, and interasian trade should pick up now, china will suck the immediate region up in the medium term and then slwoly the rest of the world with stablisation of markets etc will start to come back and employment will follow
I think the whole bank debt issue will linger but we are over the wrose and the system should be able over time absorb any lingering issues.
The global reactions have been unortahdox but pretty well spot on so far.
