Some sage words of advice from Vanguard’s chief economist, Joe Davis, and Jonathan Lemco, global markets analyst.

Key points:

1. The world economy is still in recession, but the rate of deceleration is starting to slow. (Clever way of saying the worst is over, but we’re still falling).
2. Much of the world has seen the worst of the recession thus far, but certain countries are handling it substantially better than others (e.g. Asian economies).
3. Beware the “unintended consequences” of governmental fiscal policies.
4. The most concerning risk to emerging markets is if the United States falters.
5. If commodity prices falter, the recessionary impact could be more severe in countries that are export dependent.

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