Octubre 20, 2018
The world should prepare for the next recession, while it still can
As financial markets take fright, we should take a look at the next recession. Last year growth was accelerating around the world. Today, America alone is booming. As interest rates diverge, emerging markets will find it harder to service dollar debts—which could blow back to the rich world. Although a re-run of the crisis of 2008 is unlikely, many economies are ill-prepared to deal with even a mild recession. Central banks do not have much room to cut interest rates and politicians may balk at unconventional monetary policy, deficit spending or co-ordinated international action. The time to prepare is now." Toxic...
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