Stagflation Cometh
Slower economic growth – or possibly a recession – in the US will inevitably cause a global slowdown. And if central banks fail to respond appropriately to growing inflationary pressures – recognizing that much of it is imported, and not a result of excess domestic demand - we should prepare for the worst: another episode of stagflation.
https://prosyn.org/kgSD6ut
New York – The world economy has had several good years. Global growth has been strong, and the divide between the developing and developed world has narrowed, with India and China leading the way, experiencing GDP growth of 11.1% and 9.7% in 2006 and 11.5% and 8.9% in 2007, respectively. Even Africa has been doing well, with growth in excess of 5% in 2006 and 2007.