A Post-Crisis World of Risk
The global economy’s most striking feature nowadays is the magnitude and interconnectedness of the macro risks that it faces. That is because the post-crisis period has produced a multi-speed world, as the major advanced economies struggle with low growth and high unemployment, while the main emerging economies have restored growth to pre-crisis levels.
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MILAN – The global economy’s most striking feature nowadays is the magnitude and interconnectedness of the macro risks that it faces. The post-crisis period has produced a multi-speed world, as the major advanced economies – with the notable exception of Germany – struggle with low growth and high unemployment, while the main emerging-market economies (Brazil, China, India, Indonesia, and Russia) have restored growth to pre-crisis levels.