Compared to the start of 2018, economic forecasters at the end of the years are much more gloomly about global economic prospects for the forthcoming period. Trade wars, the ‘end’ of cheap money, excessive emerging market corporate debt, and Britain ‘crashing out’ of the EU are some of the major risks identified in the turn-of-the-year economic projections. We’re told that sluggishness is taking hold again.
Despite the shift in tone there is still too much complacency about the deeper challenges we’re facing. Here are three that deserve more attention and discussion, not just by forecasters but by all of us: accumulating Western atrophy inflaming international economic unevenness; exorbitant debt levels in the mature nations; dysfunctional economic policies.
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