The world after the crash
The breakfast meeting got underway with an identification of the long-term challenges that the economic crisis poses to the West. It was noted that the last twenty years have been marked by momentous changes. In the 1990s, the various areas of the world became increasingly interdependent. As a result, the last ten years have seen the highest global GDP growth ever recorded, fueled mainly by the US deficit and Chinese exports. However, the scale of this financial and trade imbalance cannot support future growth.