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Globalisation gets short shrift amid slowing demand

World leaders blame open borders for their woes and turn to protectionist controls rather than take steps to reduce inequality.

A commodity boom fuelled by China's growth from 1990 to 2012 allowed many commodity exporters to grow rapidly. Now that has been thrown into reverse, and emerging markets that export iron ore, oil and other commodities are in or near recession.


THE world economy has slowed substantially and monetary stimulus is losing its punch. Several countries are employing negative interest rates to weaken their currencies and discourage capital inflows, even though these rates do little to boost real economic growth. Terrorist...

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