Is the end in sight? That is the question at the World Economic Forum in Davos this week.
After three years of fearing the worst, the great and good of the financial and business worlds here in this tiny Swiss resort are finally daring to hope for better.
This, despite a warning about over-optimism from Christine Lagarde.
“ I would include Japan, the euro area and the United States, and the order I mentioned them is not specially relevant but there are threats on the horizon if those regions or countries do not keep up the momentum.” the head of the IMF to delegates.
Lagarde’s comments are timely. Japan has just posted a record high trade deficit for 2012, as exports to Europe and China continue to dwindle.
The theme of this year’s conference in Davos might well be “managing your expectations.”