A decade after the GFC, global recovery gathers pace

By Dr Don Stammer – adviser to Altius Asset Management and columnist at The Australian. The views expressed are his own.

Next month marks the 10th anniversary of the worst days of the global financial crisis in 2008, when governments and central banks around the world took urgent action to prevent financial systems from collapsing and to avoid a deep and lasting economic depression taking hold.

Early on, many people expected a “new normal” of slow and hesitant economic growth with sustained low returns on all major asset classes; “secular stagnation” was a widely-held fear.

As time passed, however, the upswing in global business conditions continued.