Caixin OnlineOpinionMagazine Columnist谢国忠 Andy Xie Why the Global Economy Is Still Stuck
03.07.2013 17:38

Why the Global Economy Is Still Stuck

In the wake of the financial crisis, policies the world round remain focused on the wrong things, especially speculation
By Andy Xie
 
a

The global economic news is not good lately. The Italian election was a statement against the austerity policy of the previous government, but failed to offer an alternative. The resulting uncertainty keeps Italy's government bond market on thin ice, threatening to engulf the whole euro zone in a new financial storm.

The U.S. government has been embroiled in a fight over something called "sequester" for weeks without a solution. The resulting US$ 85 billion cuts in government spending rekindle the risk of double-dip recession. The cuts are 0.5 percent of GDP and less than one-tenth of the United States' fiscal deficit. The big worries over them reflect the fragile state of the American economy after massive stimulus over five years and a dysfunctional U.S. political system.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
Sign up to receive our free daily newsletter

LATEST VIDEOS

Latest Issue
On the Cover:

Kingdom Collaboration

An interview with the CEO of the Saudi kingdom’s oil giant points to closer ties between China and its largest crude supplier


Issue 89
May , 2015

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Kingdom Collaboration
An interview with the CEO of the Saudi kingdom’s oil giant points to closer ties between China and its largest crude supplier
Issue 89
05.01.2015

Subscribe       |       Newsletter        |        FAQ