Volume 5 ISSUE 2

MEETING THE CHALLENGES OF GLOBAL ECONOMIC MELTDOWN: THE AFRICAN, AMERICAN, ASIAN AND EUROPEAN EXPERIENCES

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Abstract
Experts have described the global economic meltdown as the worst world economic recession in seventy (70) years. This paper examines the basis for this meltdown and discovers that it started in the United States of America, and has affected critical sectors (like banking, housing, automobile, etc) of most world economies with very serious consequences. Though experts have predicted a speedy recovery of the world economies, indicators have shown that steps and remedial measures, taken by many countries cannot/will not propel their economies towards meaningful recovery in the nearest future. This paper, therefore, recommends that any stimulus package by any country should he focused on infrastructure and social safety because of the key role infrastructure plays in stimulating the growth and development of economies especially now.

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