Following the bankruptcy of Lehman Brothers in September 2008, which marked the beginning of the global financial and economic crisis, the world economy is struggling to find a sustainable growth path. While 2009 saw, for the first time since the Great Depression in the 1930s, negative growth on a global scale (-0.6%), 2010 brought big relief to all stakeholders in the global textile value chain - from fiber to retail - including all textile-related industries, such as the textile machinery or the chemical industries. The reasons for this quick and sharp recovery were: Continued growth in emerging economies around the world, especially in China and India; and The policy responses around the world were expansionary. Fiscal stimuli in countries including the United States, Europe, and China, combined with the loose monetary policies of all major central banks, created sufficient liquidity to prevent a major credit crunch, and thus a global depression. As a consequence, global production and trade increased by an impressive 5.1% and 12.6% in 2010, respectively.
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