The US economy needs a mix of steadfastness, caution and good luck for its full recovery.
Mohamed A El-Erian
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Though many lamented the extent of Western domination of the global economic system, is the emerging system any better?
Economic chaos is ravaging Western countries, few of which are well-equipped to deal with major structural changes.
The longer politicians argue about how to solve the economic crisis, the smaller the chance of recovery becomes.
Solving the current economic malaise involves swapping short-term pain for long-term gain, a tradeoff politicians fear.
Although obstacles remain, recent data indicates that the world economy is on the path to growth, experts says.
If recovery from the 1995 Kobe earthquake is a guide, then Japan has a long road ahead.