Business Environment

1. For the last year world production and international trade expanded at much higher rates, than it was expected. The situation in financial sector has essentially improved. However, the phantom of crisis of sovereign debts and the beginning of toughening of a budgetary policy became new factors with which the governments had to deal, solving a problem on economy recovery.

Forecasts of economic growth for 2010 constantly rose in process of restoration of confidence and world trade buoyancy. At the bottom of recession, in April, 2009, the IMF expected that 2010 will be awful: world gross national product would grow only to 1.9 %, and the developed countries would expect stagnation. Then the forecast has been gradually raised to 4.8%.

[pic]

Some areas of economy have almost completely recovered from crisis. According to the Netherlands bureau of the analysis of economic policy which traces a situation in industrial sector and trade, in the summer of this year the volume of world industrial production has exceeded peak of 2008, and the world trade volume has almost reached a pre-crisis maximum. Despite all weight of recession, it was possible to avoid repetition of depression of 1930th with its stagnation and high protectionism. In many countries, first of all European, unemployment growth has appeared not such serious as many were afraid. Economic results of developing countries have exceeded all expectations.

The moods have taken a turn for the worse in the beginning of summer. One of the reasons of the increased nervousness - is the deterioration of situation in economy of the USA last months. In October revision of forecasts of IMF decrease in an estimation of the USA was the most radical: to 2.6% in 2010 and to 2.3% in 2011. Unemployment in the USA remains at level almost of 10 % and doesn't decrease, as after last recessions.

The September report of the World organization of work (WOW) told that the developed countries will be able to...