From bankruptcies to stock market highs, this was a decade of turnarounds.
As the 2010s draw to a close, the global economy is in a very different place at the decade’s end than at its beginning.
The crisis was most acutely felt in Greece, which had its bond rating slashed slashed to junk status after it was revealed that the government had seriously misrepresented its debt burden. Leaders agreed toIn the subsequent backlash and public protests against Greek austerity measures, there was speculation that the country might leave the Eurozone entirely.
“Obviously, Brexit opens up the possibility more concretely that European countries can leave their union and I’m sure that’s going to have all kinds of ramifications,” said Mark Zandi, chief economist at Moody’s Analytics. With nationalism growing in prominence, he predicted that the Eurozone will face a continuation of these challenges in the coming decade.The 2010s were marked more broadly by a surge of populist and nationalist sentiment both in the U.S.
For roughly half a century, business and industry labored to build manufacturing and production facilities and supply chains to take advantage of the availability of raw materials, cheap labor and lax environmental regulations, all in a relentless drive for efficiency. Now, that commercial infrastructure is under strain.
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