Whereas the low saving rates in major deficit economies previously reflected large-scale private sector borrowing, the rapid decline in private spending after the crisis replaced private deficits with sizeable public sector deficits. Too much of global demand and economic activity is now dependent on the fiscal deficits in the developed world.
I hope the participants found them useful and have found workable approaches to those issues. I intend doing something similar this time too, although this happens to be the day two of the Conference. Who is a CIO? 2. Over the years, the roles and responsibilities of the CIOs have been undergoing a major transformation.