During the Asia-Pacific Economic Cooperation summit, leaders of the Pacific Rim nations seemed confident that the economic crisis would be over by mid 2010.
“We are convinced that we can overcome this crisis in a period of 18 months,” the leaders said in a statement. “We have already taken urgent and extraordinary steps to stabilize our financial sectors and strengthen economic growth.”
Although they seemed sure of this bold statement, they failed to provided details as to how this would be done, or how they planned on helping. Overall, I think putting such a distinct timeline on this economic crisis is more wishful thinking than anything else.
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