Associate Professor of Finance Jeff Rosensweig recently presented a webinar for Harvard Business Review in which he discussed some of the aspects of a changing world economy.
Rosensweig, a veteran economist, is also the director of the Global Perspectives Program at Goizueta.
The webinar, entitled “Maximizing Global Opportunities” includes commentary from Rosensweig and a plethora of charts showing growth — and decline — in economies around the world.
“There are over 200 economies on Earth but most of those are very small,” Rosensweig told participants. “If we look at the top 20 we encompass the vast majority of economic activity [and] financial wealth.”
Rosensweig pointed out the United States, though with its share of economic turmoil, is still — by far — the largest economy on Earth. China, he says, is leading in economic growth and recently passed Japan as the world’s No. 2 economy.
Rosensweig said every large economy should see growth in 2011 and 2012.
“However, because the recovery hasn’t been fast in many places… a lot of people are still doubtful whether we are in a recovery or just muddling along the bottom,” he said. “The forecast is [the United States] will grow about 2.5 percent a year. That’s better than having a double-dip recession but we need to grow that fast just to maintain our unemployment rate.”
Rosensweig also discussed countries experiencing large amounts of growth, especially in Asia and Africa. He also talked about the growing impact of U.S. debt, which as grown from $1 trillion in 1981 to more than $14 trillion today.
ABOUT THE EXPERT
Jeff Rosensweig is an associate professor of International Business and Finance. He is also Director of the Global Perspectives Program. Rosensweig specializes in global strategy, global economics and international finance. Prior to joining Emory in January 1988, he was Senior International Economist at the Federal Reserve Bank of Atlanta. Jeff has also taught at M.I.T. and in the economics department and the School of Management at Yale University. He also writes a regular column for the Atlanta Journal-Constitution.