Recently, the International Monetary Fund released a statement that “Global recovery has started”. A chief economist of IMF said that United States finally improves its economy by focusing on exporting products in parallel to the importation done by Asia.

But, is it an overstatement to say that economic recovery is at hand? Well, probably all nations are starting to recover from the economic crisis but there is still a problem as to how to sustain this so-called recovery.

According to the article released by Olivier Blanchard, before there was a financial crisis, the potential economic result may be lesser. He admits that for US to return back to its stable economy, it has to go through a diffucult process. And even if it will turn out positively, there will always be “a deep scar” left which can affect the future supply and demand.

Due to this economic crisis, about three-forths of US household has gone through losses. In fact, Americans no longer follow their “free-spending ways”. Not just the US constituents, but all people around the world have a difficult time adjusting to this economic difficulty.

In my own opinion, this event has taught all of us to save money. Previously, everyone is happy-go-lucky and would mostly spend. But since the crisis, with prices starting to soar while salaries are stuck at the same rate, everyone learned a good lesson.

I just hope that what the IMF said is true. Hopefully, their economic technique of focusing on exporting rather than importing will always be implemented. This is one way to keep the Dollar purchasing power on the top among all other currencies. May we able to sustain the global recovery.

Source: CNNmoney