IMF sees economic turnaround not simple.

Olivier Blanchard, IMF’s chief economist claims that world economic recovery is underway. However, the process will not be easy.
The crisis was very sharp and left deep negative effects. Both supply and demand will recover for years.

He expects that consumption based economies, such as U.S., will remain at below pre-crisis levels for a long period of time.
Blanchard believes that emerging Asian countries, especially China, would have to keep the recovery on the right path.