Each type renders the scene from a different perspective.

If this happens, Chile will enter into the 21st century with great prospects.

In fact, most professional economists do not seem overly glum about the global economy s prospects.

EU Foreign Minister Javier Solana has already been there, and returned bullish on future transatlantic cooperation.

Agustín Carstens, the governor of Mexico s central bank, has been described as the leading prospect among the group.

Faced by uncertain re election prospects, and worried about job losses, US President George W. Bush has begun to blame other countries, sending his Treasury Secretary to demand that they raise their exchange rates in order to make foreign goods more expensive for American consumers.

Similarly, some of NATO s newer members, many of which are former Soviet bloc states, are anxious about the prospect of Russian rearmament.

As a result, many emerging countries, with their higher interest rates and promising growth prospects, have become irresistibly attractive to investors.

With so much underutilized productive capacity today, and with immediate economic prospects so dismal, the risk of serious inflation is minimal.

As a result, many emerging countries, with their higher interest rates and promising growth prospects, have become irresistibly attractive to investors.

Hence the rising risk of a major downturn and additional fiscal distress. Combined, these factors should produce a correction in asset prices that brings them into line with revised expectations of the global economy s medium term prospects.

The resetting of asset values in line with realistic growth prospects is probably not a bad outcome, though it will add to the demand shortfall in the short run.

Moreover, the situation was exacerbated by the incompetence of the region s authoritarian regimes, which have been unable to provide their young people with any prospects beyond repression.

Or, more accurately (though more cumbersomely) It s the perception of future living standards, stupid, and the perception of fairness surrounding those prospects.

Combined, these factors should produce a correction in asset prices that brings them into line with revised expectations of the global economy s medium term prospects.

Avoiding this dismal new normal will be difficult, but there are alternative policies with far better prospects of returning the US and the global economy to prosperity.

Agustín Carstens, the governor of Mexico s central bank, has been described as the leading prospect among the group.

But, starting in 2010, the imbalances returned, and, according to the International Monetary Fund s recently released World Economic Outlook, they will not shrink between now and 2016.

Moreover, for too many investors, Portugal, with its poor growth prospects and insufficient domestic savings to fund the public sector deficit, looks like Greece. And Spain clearly has to grapple with its own Irish problem, namely a huge housing over hang and probably large losses in the banking sector following the collapse of an outsized real estate bubble.

Simply put, the international community must take advantage of the current recovery to broaden efforts to ensure financial and economic stability, and help those countries with limited prospects.

The divergence in policy and its time horizon will be papered over by the improved outlook for growth in both Europe and the US for the next year or so.

Moreover, for too many investors, Portugal, with its poor growth prospects and insufficient domestic savings to fund the public sector deficit, looks like Greece.

It will dull the pain for a short period, but the euro s deep seated problems will metastasize, with a dismal prognosis for the single currency and perhaps even the European Union as a whole.

If, instead, private debts are excessively socialized, the advanced economies will face a grim future serious sustainability problems with their public, private, and foreign debt, together with crippled prospects for economic growth.

Syria s behavior is closely related to its prospects for recovering its own occupied territory the Golan Heights and is clearly interested in a new peace process with Israel to achieve this national goal.

If we then include fiscal factors associated with the lack of confidence in the national currency, as well as the worsening prospects for economic growth, then by the end of this year, inflation could very well exceed 8 .

Terrorist attacks in Saudi Arabia have led many to question not only the ruling House of Saud's prospects for survival, but also whether the kingdom is fundamentally dysfunctional and destructive.

Of course, most French people would ultimately benefit from doing away with this inefficient web of big and small privileges, but most voters, depressed by poor economic prospects and unnerved by high unemployment, are simply unwilling to take the risk.

It turns out that freedom the ability to make up your mind and change your mind is the friend of natural happiness, because it allows you to choose among all those delicious futures and find the one that you would most enjoy.

Combined with their low and declining GDP growth prospects, their debt burdens are becoming sufficiently onerous to raise questions about whether they can stabilize the situation and restore growth on their own.

While these protests have no unified theme, they express in different ways the serious concerns of the world s working and middle classes about their prospects in the face of the growing concentration of power among economic, financial, and political elites.

On one side of the border is the poorest country in the Western Hemisphere, a place where 56 of the population survives on less than one dollar a day. On the other side of the island stands a stable democracy with a promising outlook for a reasonably prosperous future.

When we have a choice between lives with such different prospects and can make the choice before the embryo or fetus has any awareness at all shouldn t we be able to choose the child with the better prospects?

Moreover, tools that may be used wisely and well by institutions with a global outlook, like the Fed and the Bank of England, could take on a different character in countries where a commitment to free and open markets cannot be taken for granted.