In his column in Helsingin Sanomat newspaper, Paavo Rautio writes that recessions are a recurring event and that it is important to focus on what comes afterwards. "The global economy has plunged into a recession. The newspapers are flooded with assessments of what will happen here and now. One expert after the next explains how long the stagnation will last, and everyone is prescribing anti-recession medication. This is astonishing, because recessions come and go. ... Far more interesting is how the global economy, businesses and politicians are accepting these changes. If boom phases can change the world, recessions can do so much more. In the world of business, economic collapses are a fight for survival. Those who are best prepared, the most productive and the most profitable will win out. In a recession they consolidate their position vis-à-vis their competitors. ... As always in a fight for survival, the strong defeat the weak. ... Once the recession is over Europe will have changed. The EU's efforts to balance the standards of living and unite its members will have been dealt a severe blow. ... Internal differentiation within the EU will accelerate. ... Strong countries will not want to wait indefinitely for those that are helpless without their support." (03/12/2008)
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