A "poisonous combination" of low
economic growth and high debt could catapult the world into its next
crisis, led by China and the "fragile eight" countries, warned a report
by senior economists on Monday.
This year's
Geneva Report, whose authors include ex-Federal Reserve economist
Vincent Reinhart, said global debt levels were still rising,
particularly in developing countries.
"Contrary to widely held beliefs, the world has not yet begun to
delever and the global debt-to-GDP is still growing, breaking new highs.
At the same time, in a poisonous combination, world growth and
inflation are also lower than previously expected," Reinhart and
colleagues wrote in the 16th annual Geneva Report.
No comments:
Post a Comment