Pervasive gloom about the world economy
The economic mood is exceedingly glum around the world. Across 21 nations surveyed by the Pew Research Center’s Global Attitudes Project, a median of just 27 percent think their national economy is doing well.
The contrast in economic outlook between four of the emerging markets – Brazil, China, India and Turkey – surveyed and the EU and U.S. is striking. People living in emerging economies generally are more likely than Americans or Europeans to say they are doing better than their parents. They also are more upbeat than Americans and Europeans on whether they think economic conditions in their countries are good, on whether they are financially better off compared with five years ago, and about the future of their children.
The survey, conducted among more than 26,000 people in 21 countries from March 17 to April 20, also finds:
- Faith in Capitalism and Hard Work: The global economic crisis has widely eroded support for capitalism. In 11 of the 21 nations surveyed, half or less now agree that people are better off in a free market economy.
- Personal Circumstances: A median of 52% in the 21 nations surveyed feel satisfied with their own circumstances. Americans are twice as likely to say their family finances are in good shape as to judge the national economy positively.
- Blaming the Government: Among those who think the economy is doing poorly, people in 16 of 21 countries primarily fault their own government, some overwhelmingly so.
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