The biggest risk to the global economy lurks unseen
It’s not been a happy new year so far for equity investors. China’s stock market fell by 7 per cent on Monday, triggering sharp declines globally.
Investors are worried about the slowdown in China. That’s a known unknown. The bigger shadow over the market and the economy, however, is the possibility of a reprise of the debt crisis. That not only poses a risk to the global economy but also constrains the actions policymakers can take to boost growth.
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