Home prices keep falling, but productivity is rising fast. GDP grew 5.6 percent in the fourth quarter, yet

Home prices keep falling, but productivity is rising fast. GDP grew 5.6 percent in the fourth quarter, yet

The Boom Is Nigh

Why the coming recovery will hurt like hell.

 By Gregg Easterbrook

Home prices keep falling, but productivity is rising fast. GDP grew 5.6 percent in the fourth quarter, yet unemployment remains stubbornly high. Inflation is nonexistent, while the consumer confidence index just rose to 55.9 from 53.6—whatever that means. Can’t make sense of these economic indicators? Don’t worry, because nobody else can, either.

Here is what you really need to know: a Sonic Boom is coming. It will be caused by globalization. And while globalization may be driving you crazy, it’s just getting started. Thirty years ago, Shenzhen, China, did not exist; today, it has nearly 9 million residents, roughly the same as New York City. In a single generation, it has grown from a village of tarpaper shacks into an important urban center. It has become the world’s fourth-busiest port, busier than Los Angeles and Long Beach combined. Never before has a great city been built so fast, nor a productive economy established from so little.

The international recession that began in 2008 has made the Sonic Boom quieter, but history shows that when a crisis ends, the larger trends in place before the crisis usually resume. Shenzhen represents the larger trend of growth, change, and transformation at unprecedented velocity. 

Thanks to vast increases in productivity, worldwide economic growth soon will pick up, creating rising prosperity and higher living standards for most people in most nations. The world will be far more interconnected, leading to better and more affordable products, as well as ever better communication among nations.

But there’s a big catch: just as favorable economic and social trends are likely to resume, many problems that have characterized recent decades are likely to get worse, too. Job instability, economic insecurity, a sense of turmoil, the fear that even when things seem good a hammer is about to fall—these are also part of the larger trend. As world economies become ever more linked by computers, job stress will become a 24/7 affair. Frequent shakeups in industries will cause increasing uncertainty. The horizon has never been brighter, but we may not feel particularly happy about it.

www.newsweek.com

MACKENZIE 2010.2 - QUESTÃO 16

The article states that

a) job instability is still feared.

b) a Sonic boom in China is about to happen as soon as the big catch takes over.

c) thirty years ago China did not exist.

d) globalization has grown recently, becoming nonexistent and turning China’s inflation into an important economic feature.

e) the recovery of China is compared to New York City’s power to develop itself throughout hard and shady times.

QUESTÃO ANTERIOR:

- Read the following statements about the text and choose the appropriate alternative.

GABARITO:

a) job instability is still feared.

RESOLUÇÃO:

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PRÓXIMA QUESTÃO:

- According to the cartoon,

QUESTÃO DISPONÍVEL EM:

- Prova Mackenzie 2010.2 com Gabarito