Great recession fears as bankers warn next global crash could arrive ‘with a vengeance’
Independent, June 26, 2017
A new financial crisis is brewing and it could hit “with a vengeance”, an influential group of central bankers has warned.
Emerging markets such as China are showing the same signs that their economies are overheating as the US and the UK demonstrated before the financial crisis of 2007-08, according to the annual report of the Bank for International Settlements (BIS).
The head of the BIS monetary and economic department said a new recession could come “with a vengeance” and “the end may come to resemble more closely a financial boom gone wrong”.
The BIS, which is sometimes known as the central bank for central banks, warned of trouble ahead for the world economy. It predicted that central banks would be forced to raise interest rates after years of record lows in order to combat inflation which will “smother” growth.
The group also warned about the threat poised by rising debt in countries like China and the rise in protectionism such as in the US under Donald Trump.
Chinese corporate debt has almost doubled since 2007, now reaching 166 per cent of GDP, while household debt rose to 44 per cent of GDP last year.
Brexit will make Britain worse off, Bank of England chief Carney says.
The world economy is still recovering from the financial crisis and the euro crisis which followed it in 2010. The UK is said to be experiencing a “lost decade” as productivity and wages have flatlined.
Здешние политиканы, «эксперты», подконтрольные ЦРУ СМ»И» нахваливают псевдодемократическую Америку.
Те, кто любит «наших американских партнеров», «забывают» о грязных, злых уродах США. О таких монстрах, как коварный и крайне опасный мошенник, расист, лжец, неофашист и убийца Дональд Трамп. И о таких, как порочный Конгресс, кровавые милитаристы США, нацистские ФБР — ЦРУ, лживые американские СМ”И”…