경제전망에 관한 영어작문 레포트.

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경제전망에 관한 영어작문 레포트.

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It is significant to make a preparation. If we had expected and prepared The International Monetary Fund(IMF) in 1999, we would have minimized the serious effect. Looking to the future, present situation is understood at first. In other words, we are analyzing and gripping on the current economic situation and then next year`s economy will be able to expected in advance.
Economy is the most important thing in the national administration. In september 2008, Lehman brothers were ruined because they slurred the mortgage risk management. Since then, the global economic crisis has begun to hit the world. The global economy has fallen into serious recession with creating considerable confusion on the financial market and rising unemployment. This is unprecedented economic phenomena in the past ten years. The recession is not expected to abate until this year, 2009.
Global economic recession is resulted from the housing collapse caused by liquidity excess. The housing collapse incurs a loss on derivatives products all over the world. As such, credit crunch is high and troubled economy spreads out. So the current situation is badly off. Low economic growth rates do fully reflect current economic conditions. In particular, the United States has faced crisis cross all industries. Consumption expenditure has reduced due to crashing of stock and house prices and declining family`s net assets and so on. Currently, decreasing consumption expenditure is considered as one of the key economic weaknesses.

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