When viewed in the broader context of the past decade, US-China trade tensions turn out to be a symptom rather than a cause of the world’s ...
NEW YORK: It’s only a matter of time until the escalating tensions between China and the United States prompt many more economists to warn of an impending global economic recession coupled with financial instability.
As growth prospects deteriorated, debt and leverage issues would come to the fore in certain countries, adding financial instability to an already damaging economic cocktail. In fact, an excessive focus on trade risks is deflecting policymakers’ attention from other measures needed to ensure faster and more inclusive growth in a genuinely stable financial environment.Policymakers must contend with growing political pressure on central banks and a backlash against the inequality trifecta .
A road in Shenyang, Liaoning province, where authorities seek to revive the recession-hit industrial region. The second post-crisis feature is the persistent over-reliance on the pain-numbing but distortionary medicine of central-bank liquidity, rather than a more balanced policy mix that seeks to ease the impediments to faster, more inclusive growth.
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