Optimism is the leitmotif surrounding the upcoming Pittsburgh Summit. Yet certain concerns remain. A year ago, as the dramatic recession unfolded around the world, many were convinced we were heading for a repeat of the Crash of 1929.

Due to measures adopted at the G-20 Summit in London last April, the worst threat in decades to the global economy was contained.

After a 9 percent reduction, global trade has rebounded, thanks to the injection of U.S.$250 billion in flexible, unconditional credit. Nearly 50 million jobs will be lost in 2009, but there are signs that the worst is past. Another U.S.$750 billion went to stimulate demand and stabilize the current accounts of many — particularly developing — countries hit by the drastic cutback in foreign trade and credit.

Read more at: http://www.huffingtonpost.com/luiz-inacio-lula-da-silva/g-20-pittsburgh-summit-re_b_295978.html

(image from wikicommons)

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