Management & Marketing no. 1/2014

2014: The turning point in the post-crisis world

Mihai Pascu,
Transilvania University of Braşov, Braşov, Romania

Abstract. This article explores the significance of the current year in the evolution of the world economy. In 2014, it is for the first time after six difficult years when we can discuss about the post-crisis world. From this point of view, 2014 is a turning point in the evolution of the post-crisis world. This year the start of a genuine economic recovery will take place, according to current forecasts. In 2014, the average GDP growth for advanced economies will be 2.2% compared to 1.6 in 2013. The process of recovery is more pregnant in the United States and in the United Kingdom. At the same time, it is worth mentioning that the eurozone will experience a positive evolution after several years of negative growth. Let us not forget that the emerging world will experience a growth pace twice as big as that of the developed world. China is forecast to achieve 7.5% growth this year. Developing Asia and Sub-Saharan Africa are expected to lead the way as usual. In aggregate, the growth of emerging economies is forecast at 5.1% this year, up from 4.7% in 2013. This will diminish the gap between the developed world and the emerging world, respectively.

Keyword: financial crisis, post-crisis world, global GDP growth, emerging world.

Download full article