As growth fizzles out, it’s as if the last 10 years never happened
by Guardian Staff from Economics | The Guardian on (#4CMT8)
Flaws in the global economy that led to the 2008 financial crisis were papered over rather than dealt with
Last week marked the 10th anniversary of the London G20 summit, an event that took place at the low point in the deepest slump since the 1930s, yet represented the high point of international cooperation.
A decade on, the global outlook is once again darkening. World trade growth is at its weakest since 2009, the protectionism that the London summit eschewed has reared its head, and central banks have responded to faltering growth by scaling down plans to raise interest rates.
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