Economic Crisis &  Research
Programs
a future of diminishing growth and increasing poverty

The global financial crisis destroyed the faith that both policymakers and the general public had in the traditional economic models and thinking that had failed to foresee the disaster.
The crisis project aims to fill that gap by developing a new approach to economic modelling and understanding risks and instabilities in the global economy and financial system.
The Winchester City University programs aims to build students' technical competence in the tools of economic management and policy-making, train students in the application of these skills, and educate students about current thinking on the world economic environment, as well as its history and institutions.

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Research Areas

• Climate, Energy and Economic Growth
• Economic Demography
• Finance
• Global Institutions
• Health Economics and Management
• Innovation and Entrepreneurship
• Management and Organization Studies
  
• Marketing

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Economic crisis in Asia

After more than a decade of rapid economic growth, many East and Southeast Asian countries face the prospect of a long economic slump, and the poor in these countries face a reversal of their halting climb out of poverty. Recovery from the crisis will depend, in part, on increases in Asia’s exports to some of the larger developed markets, like the United States and Western Europe. But developed countries themselves are suffering from the crisis to varying degrees, depending on their trade and financial links with Asia and pre-crisis economic and financial positions. Long-term scenarios for food supply, demand, and trade indicate that world cereal and livestock prices will decline much more slowly than in the past several decades, even under the severe-crisis scenario. The stronger price structure is the result of the continuing, gradual slowdown in the rate of growth in both production and consumption. Other structural elements will also hold in place even as changes in welfare occur. The growth in cereal trade remains strong in all three scenarios, and Asia’s role as a major player in cereal and livestock markets in the coming decades is not likely to be threatened by the current crisis. But at the same time the crisis is expected to have its most devastating effect on Asian food security.

Global Economic Crisis

The global economic crisis was caused by the coming together of several structural as well as business cycle factors that conspired to produce a “perfect storm” of epic proportions. These factors ranged from the collapse of the housing market in the United States, imbalances between the West and the East in terms of trade deficits, reckless and risky speculation and finally, the sovereign debt crisis that was a culmination of years of fiscal profligacy and loose monetary policies. The point about the global economic crisis or the Great Recession as it is also called is that the crisis exposed the chinks in the armor of the global economy and highlighted the pitfalls of too much integration and inter-connectedness.
The global economic crisis basically originated in the West but had its effects on all economies of the world. Of course, the US and the Europe were the primary victims of the crisis and it can be said that countries like India and China were relatively unscathed in the wake of the crisis. However, this is not to say that these countries have successfully “decoupled” from the west since the tightly knit global economy and the dependence of China on exports to the US for goods and India for services means that these countries have a fair amount of work to do before they can be called safe. The point here is that the United States and Europe were badly bruised by the crisis and it is still not clear when these countries and their economies would be out of the woods, if at all they would.
Finally, the global economic crisis has undone the many gains that have been made by globalization and hence there are renewed calls for protectionism and for erecting trade barriers in the West as well as in the East. This means that the global economic crisis has dealt a body blow to the global economy which might take years to regain its earlier prosperity.

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