Sample Thesis Paper
However, not all assessments were inaccurate. For instance, time proved that the report published by the Bank for International Settlements was highly accurate in its interpretation of the economic scenario that prevailed in 2003 and the predictions it made regarding the oncoming economic condition (Keegan).
The report was highly straightforward in its recommendation to key players in global macroeconomics that it was entirely up to them to save the global economy from going into a recession. The report also suggested that these key players concentrate on directing resources upon the formulation of economic policies to make sure that the international economy was not put to risk in the coming future.
This assessment report was published in the annual report of the Bank for International Settlement and warnings were given to the international economic community to ensure that precautionary policies were developed to avoid the occurrence of any unforeseen recession. The report mentioned clearly that the recession would develop steadily and become more obvious as time passed by until it would hit its peak and then it will become very difficult to maintain balances in growth. The report served to raise the question of how exactly the global economy was to be saved from a severe recession without upsetting the global macroeconomic scenario that prevailed back then.