TOKYO — The global economy is like a jetliner that needs all of its engines operational to take off and steer clear of clouds and storms. Unfortunately, only one of its four engines is functioning properly: the Anglosphere (the United States and its close cousin, the United Kingdom).
The second engine — the eurozone — has now stalled after an anemic post-2008 restart. Indeed, Europe is one shock away from outright deflation and another bout of recession.
Likewise, the third engine, Japan, is running out of fuel after a year of fiscal and monetary stimulus. And emerging markets (the fourth engine) …read more
Source: The Huffington Post
