More on the global economy. As expected, the International Monetary Fund cut its growth forecast – the first time it has done so since July 2016. It estimates that global growth will hover at around 3.7 percent instead of climbing to 3.9 percent. All things considered, 3.7 percent is nothing to be ashamed of. It would match the highest levels recorded since 2011, and it would do so amid a trade war between the world’s largest economies. (Not to mention the tightening of monetary policy by many central banks.) But strong headline figures have a way of masking what’s beneath the surface, especially when major economies are still accruing debt, still stimulating growth through measures put in place by the last crisis, and still ill-equipped to deal with the next. IMF chief Christine Lagarde went so far as to say the situation could give way to a second Great Depression. Alarmist as that may sound, it’s worth keeping in mind that all the major geopolitical processes we’ve been tr
Daily Memo: Global Economic Woes, China’s Veterans, Ukraine’s Conflict
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