Some degree of gloom for the over consumed societies ...fatter salaries and bonuses will diminish..especially for those who dragged us to the gloom. At the scale the population, education and technologies moving , there’s no looking back for emerging economies. They will overcome setbacks together with or without the west as we’ve seen during Asian currency crisis. West will be left behind if they decide to dwell on gloom.
World economy will move on and even at a min 3% growth predicted by UN is huge consumption per capita for commodities and food. World GDP will be over 60 trillion US$ by end of next year and if US gets to a recession will fall below 12trillion, having a lot lesser effect on consumption and world markets.With dollar falling fast US will switch to producing from servicing and together with emerging economies ,push the demand for commodities and holding our economy healthy.
