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Some disturbing parallels to the collapse of globalisation

The retreat from globalisation occurred so rapidly in the 1930s because it built upon longstanding grievances about immigration, trade and capital flows. Similar resentments are evident today.

Like Germany in the 1920s, China's banking system has become bogged down with bad debts and industrial excess capacity is rife.

IS the international financial system on the verge of an "epoch-defining seismic rupture" accompanied by a return to global protectionism? This warning was made a couple of years ago by Claudio Borio, the respected head economist at the Bank for International Settlements. Since that time,...