So far, it is comparable with the initial slow rebound from the 1991 recession. It lags behind the 1998/99 recovery from the East Asian crisis, which is probably freshest in most peoples’ minds. We should not really be surprised by the gradual nature of the recovery. The global shock that hit us was, something like a once-in-a-generation event.
A key part of any solution is getting the region’s retail banks to work with us. Success will take a collective effort – as the returns to any one party do not justify the effort alone.