Wednesday, June 7, 2017

The global recovery’s downside risks by Nouriel Roubini

 For the past two years, the global economy has been growing, but it has swung between periods of rapid expansion and deceleration. During this period, two episodes, in particular, caused US and global equity prices to fall by about 10%. Is a pattern emerging, or is a fitful global recovery set to stabilize?

The first episode came in August/September 2015, when many observers feared that China’s economy could be headed for a hard landing. The second episode, in January/February 2016, also stemmed from concerns about China. But investors were also increasingly worried about the stalling US growth, collapsing oil and commodity prices, rapid interest-rate hikes by the US Federal Reserve and unconventional negative-rate monetary policies in Europe and Japan.

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 Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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