The world economy is headed for a recession. China won’t be there to save it this time -Dodwell/South China Morning Post
"A decade after the global financial crisis, with the world's leading economies still addicted to the near-zero interest rates of the emergency response of quantitative easing, it seems the global economy remains on life support, with our experts still flummoxed about how to restore economic health. Trade across the world is stalling.
Most leading economies are reporting near-zero economic growth. Investment is in decline. Most expert organizations, including the International Monetary Fund, the UN Department of Economic and Social Affairs, the Organization for Economic Cooperation and Development and the World Trade Organization, are predicting worse to come....After fending off the threat of a massive recession a decade ago, our leaders seem to have retained an unsatiated urge to inflict self-harm as we teeter on the brink of a fresh recession....Spluttering growth in China - aggravated as much by efforts to reform its domestic economy as by the US-China tariff conflict, which is likely to lumber on into 2020 despite talk of a partial deal - is important to the world not just because of China's global importance as a buyer and supplier of goods, but also because of anxieties that it is not well placed today to provide the globally-important stimulus it did after the 2008 crash....If we are on the brink of a new recession, and even China is not on hand to provide fiscal stimulus, then how dangerously ill-equipped are we?"