While 2009 saw the world economy come close to imploding, 2011 growth, while not stellar, will begin to recover, said Craig Alexander, senior vice president and chief economist at TD Bank Group, on Friday at the TD Ameritrade Institutional national conference in San Diego, California.
The recovery seems to be going at two different speeds: while the emerging markets are growing strongly, the developed markets are recovering slowly. For example, interest rates in India and Brazil have increased 2%-3%, said Alexander. While the stock market sees efforts to tamper growth as negative, there is no question emerging market economies will be stronger. “Developing nations will represent two-thirds of world output in 2050,” Alexander said. “You can’t call them developing when they’re the lions share of growth. And remember with economic power comes political influence.”
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access