Questão 1125113

Read the text below entitled “The long climb” so as to answer questions 21 to 23:

The long climb Source:

www.economist.com

st Oct, 2009 (Adapted)

The world economy is fi tfully getting back to normal, but it will be a “new normal”. This phrase has caught on, even if people disagree about what it means. In the new normal, as defi ned by Pimco´s CEO, Mohamed El-Erian, growth will be subdued and unemployment will remain high. “The banking system will be a shadow of its former self,” and the securitization markets, which buy and sell marketable bundles of debt, will presumably be a shadow of a shadow. Finance will be costlier and investment weak, so the stock of physical capital, on which prosperity depends, will erode.

The crisis invited a forceful government entry into several of capitalism´s inner sanctums, such as banking, American carmaking and the commercial-paper market. Mr El-Erian worries that the state may overstay its welcome. In addition, national exchequers may start to feel some measure of the fi scal strain now hobbling California. America´s Treasury, in particular, must demonstrate that it is still a “responsible shepherd of other countries´ savings.”

In paragraph 1, growth in the new order is defined as