Global Downturn s Heavy Toll

Transcription

1 Global Downturn s Heavy Toll Bruce Stokes Director, Global Economic Attitudes Pew Research Center June 5, 2013 RIETI BBL Seminar

2 Spring 2013 Pew Global Attitudes Survey Economic Sentiment 2

3 Crisis Soured Economic Views % Say economy is good Advanced Emerging Developing Median based only on those countries surveyed in both 2007 and

4 China Happiest with Economy Current economic situation is Good Bad China % % Malaysia Philippines Australia Indonesia Japan S. Korea Pakistan U.S Germany EU median* 9 91 *EU median includes Britain, France, Italy, Spain, Greece, Poland and the Czech Republic 4

5 OECD Sentiment Has Collapsed % Economy is good Change Spain % % Britain Italy Czech Rep France U.S Canada Poland Israel Japan Germany S. Korea Australia Greece Median* *Median based only on those countries surveyed in both 2007 and

6 Emerging Markets Mood Mixed % Economy is good Change % % Mexico Russia China Turkey Malaysia Chile Indonesia Brazil S. Africa Median* *Median based only on those countries surveyed in both 2007 and

7 Developing Countries Negative % Economy is good Change % % Pakistan Egypt Ghana Jordan Kenya Lebanon Uganda Palest. ter Philippines Bolivia Senegal El Salvador Nigeria Tunisia Median* *Median based only on those countries surveyed in both 2007 and

8 Advanced Econ. Most Pessimistic Medians for Over the next 12 months, the economy will Improve Remain the same Worsen % % % Advanced Emerging Developing

9 Asian Outlook for Economy In the next 12 months, the economy will Improve Remain the same Worsen China % % % Malaysia Philippines Japan S. Korea Indonesia Australia Pakistan U.S Germany EU median* *EU median includes Britain, France, Italy, Spain, Greece, Poland and the Czech Republic 9

10 OECD Countries Very Pessimistic Over the next 12 months, national economic conditions will U.S. Japan S. Korea Australia Canada Israel Germany Spain Britain Italy Czech Rep. Poland Greece France Improve Remain the same Worsen

11 Emerging Economies Upbeat Over the next 12 months, national economic conditions will Improve Remain the same Worsen China Brazil Malaysia Mexico S. Africa Chile Turkey Indonesia Russia

12 Developing Economies Mixed Senegal Nigeria Ghana Kenya Philippines Tunisia El Salvador Uganda Bolivia Egypt Jordan Palest. ter. Pakistan Lebanon Over the next 12 months, national economic conditions will Improve Remain the same Worsen

13 Grim View of Personal Finances Over the next 12 months, your personal economic situation will U.S. S. Korea Australia Canada Germany Israel Britain Czech Rep. Poland Italy France Greece Japan Spain Improve Remain the same Worsen

14 But Emerging Markets Positive Over the next 12 months, your personal economic situation will Improve Remain the same Worsen Brazil China Malaysia Mexico Indonesia Chile S. Africa Turkey Russia

15 As Are Most Dev. Economies Nigeria Senegal Ghana Kenya Philippines Bolivia Uganda El Salvador Tunisia Pakistan Palest. ter. Jordan Egypt Lebanon Over the next 12 months, personal economic situation will Improve Remain the same Worsen

16 Japan Has Lowest Deprivation Pakistan Philippines S. Korea Indonesia U.S. EU median* Malaysia Australia China Germany Japan % Could not afford food *EU median includes Britain, France, Italy, Spain, Greece, Poland and the Czech Republic 16

17 Spring 2013 Pew Global Attitudes Survey Europe s Severe Crisis 17

18 Only Germans Positive About Economy % Good 100 Germany Britain France Spain Poland

19 Few Say Economy Will Improve Over next 12 months, the economy will Germany Spain Britain Italy Czech Rep. Poland Greece France Improve Remain the same Worsen

20 Majorities Say Children Will Be Worse Off than Parents Worse off Better off Czech Rep. Germany Spain Poland Greece Britain Italy France

21 Spring 2013 Pew Global Attitudes Survey Challenges and Policy Options 21

22 Jobs and Prices Top Concerns Median % Very big problem Lack of job opportunities Rising prices Rich-poor gap Public debt % % % % Advanced Emerging Developing

23 Japan: Jobs, Debt Top Concerns Median % Very big problem Lack of job opportunities Rising prices Rich-poor gap Public debt % % % % Pakistan Philippines Indonesia S. Korea Japan Malaysia Australia China U.S Germany EU median* *EU median includes Britain, France, Italy, Spain, Greece, Poland and the Czech Republic 23

24 Unemployment and Inflation Highest Priorities Median % who say government should address first Lack of employment opportunities Rising prices Richpoor gap Public debt % % % % Advanced Emerging Developing

25 Japan Priority: Jobs Lack of employment opportunities Should government first address Rising prices Rich-poor gap Public debt % % % Japan Philippines S. Korea Australia Indonesia Pakistan Malaysia China U.S Germany EU median* *EU median includes Britain, France, Italy, Spain, Greece, Poland and the Czech Republic 25

26 Young Japanese Prioritize Public Debt Most important for government to address first Rising prices Lack of job opportunities Rich-poor gap Public debt % % % % Total Age

27 Inequality a Global Problem Medians for System favors wealthy* Rich-poor gap Has increased past 5 years Is a very big problem % % % Advanced Emerging Developing *Data not available for China. 27

28 And Inequality Has Increased The gap between the rich and poor has in recent years Increased Stayed the same Decreased % % % Pakistan S. Korea China Philippines Australia Indonesia Japan Malaysia U.S Germany EU median* *EU median includes Britain, France, Italy, Spain, Greece, Poland and the Czech Republic 28

29 Young Japanese Less Concerned about Inequality Rich-poor gap is a very big problem Rich-poor gap has increased in last five years % % Total Age

30 Most Say System is Unfair Fair to most Favors the wealthy S. Korea Pakistan EU Median* Indonesia Germany Japan U.S. Philippines Australia Malaysia

31 All Pew Global Attitudes Project reports and data are available online at