Global financial meltdown and Malawi’s economy
December 09, 2008 04:55 AM (as it appeared on nyasatimes) By Greenwell Matchaya Just like any other individual in the global economy, I crave to understand the meaning of the financial turmoil hitting the developed countries, for the developing world including Malawi. In this post I will say something briefly about it. To do this, I will make some assumptions about the predominantly Western economic downturn in the short, medium and long term. As a point of departure, let's assume that the downturn will continue to trouble Western countries for sometime considering that part of its life span is hidden in whether consumers will soon regain confidence in the financial markets or not, then one would argue that for countries like Malawi, the short-run is less troubling because Malawi does not have a vibrant financial market and the Malawian economy is only indirectly and perhaps remotely related to it. Malawi's economy is also not driven by the housing market, whose collaps
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