Case study: Facing the Future

The global as well as the local economies in different parts of the world have exhibited changing trends in the past years. There have been periods of global and local economic recessions. There have also been periods of economic growth. For instance, the beginning of the 21st century was characterized by a promising global economic growth. However, before the end of the decade, an economic crisis began to be experienced globally. Several factors can be considered to be behind the changing trends that have been witnessed and that are yet to be witnessed at the local and global scenes. One of the factors that led to the changing growth pattern of the economy at the beginning of the millennium was the introduction of the emerging market into the world market. The increased industrialization