02.08.2012 16:56

A World Flying Blind

The outlook for the global economy is gloomy and leaders lacking vision are to blame. Eventually, this will come back to haunt all of us
By Andy Xie
 

Recently, stock markets around the world have performed remarkably well. This may even continue for a few months. The U.S. Federal Reserve's promise to hold interest rates near zero until 2014 and signal of a third round of quantitative soon, combined with an improving U.S. labor market, have emboldened risk-takers. Financial markets are seeing more risk-on trade.

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