Monday, November 30, 2009
Wither the world economy
This is one of those dry articles that attract few comments here, but strikes me as a profound subject. Since the imbalances China has caused are responsible to a large extent for our current troubles, not least overblown house prices, the question is what will happen now. China's excess capacity is growing, not shrinking. What will this mean for the future? Deflation? Protectionism?