Saxo Bank’s economist writes about an upcoming crisis
Christopher Dembik, Economist of Saxo Bank, claims that a new crisis is coming and explains it in four points:
• Shortening economic cycle means more frequent crises
• ‘Great Divergence’ model saw China assuming the US’ leadership role
• We have likely reached the limits of adjusting monetary policy
• States have compromised a return to growth due to debt
As he explains, “over the last two decades, economic cycles have been shortened due to deregulation, the financialisation of the economy, trade globalisation, and the acceleration of innovation cycles”.
He continues saying that over the last 25 years, “the US economy has experienced three recessions: in 1991, 2001 and 2009” adding that “the outbreak of a new crisis in the coming years is inevitable.”
Read the full article here.
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