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The Global Economy Without Steroids

Sri Mulyani Indrawati's picture

Economic growth is back. Not only are the United States, Europe, and Japan finally expanding at the same time, but developing countries are also regaining strength. As a result, world GDP will rise by 3.2% this year, up from 2.4% in 2013 – meaning that 2014 may well be the year when the global economy turns the corner. The fact that advanced economies are bouncing back is good news for everyone. But, for the emerging and developing economies that dominated global growth over the last five years, it raises an important question: Now, with high-income countries joining them, is business as usual good enough to compete? The simple answer is no. Read my full op-ed here.

Comments

Free trade remains the major cause of our economic crisis. The U.S. bailed it out but did not fix it. Nothing good can happen until we merge investments with production. They are dependent on each other. The value of workers and labor is a real economic asset. This value has been degraded and deflated. This represents trillions of dollars in value lost forever. And this value is perhaps a better money standard than all the funny money created by the Feds and World Banks.
See http://ray-tapajna-info.net/tapartnews http://tapsearch.com/flatworld http://tapsearch.com/ray-tapajna-rational-economics

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