Over the next 12 months, expect unsettling developments. The global crisis is still ?unfolding, and it could escalate
Weakening growth, rising systemic risks, and contagion-prone markets are likely to enhance economic and financial fragility. We are entering a perilous new phase.
First, growth will remain below potential, hindered by excessive debt. Since 2000, the debt globally held by governments, corporations, and households doubled to 63 per cent of global output, fuelling international growth. To avoid a structural deceleration of global activity, the balance is now due.
No comments:
Post a Comment