Excerpt
Excerpt
The Global Economy is in Serious Danger. Lawrence Summers, October 7, 2015, Opinion. "As the world’s financial policymakers convene for their annual meeting Friday in Peru, the dangers facing the global economy are more severe than at any time since the Lehman Brothers bankruptcy in 2008. The problem of secular stagnation — the inability of the industrial world to grow at satisfactory rates even with very loose monetary policies — is growing worse in the wake of problems in most big emerging markets, starting with China. This raises the specter of a global vicious cycle in which slow growth in industrial countries hurts emerging markets..." Link