CNNFN writes article about Relax. We are not heading for a global meltdown:
by Ivana Kottasova @ivanakottasova January 23, 2016: 8:59 AM ET
Joseph Stiglitz: Political climate is reflecting a discontent
Joseph Stiglitz: Political climate is reflecting a discontent
Yes, the global economy is facing a dangerous cocktail of risks. But there is
room for optimism too.
Slowing China, rising U.S. interest rates, crashing commodity prices,
and jittery emerging markets could all tip the world into a painful
economic chaos.
But leaders at the World Economic Forum in Davos say that if handled
properly, these scary events could actually bring the world back to
normality.
The global economy is in much better shape than it was before the last
recession. Many emerging markets, which are still driving the global
growth, have cut down on their foreign debts, so they are better
insulated against the rising interest rates in the U.S.
The financial system is also stronger. “We used to have huge balance
sheets, we were highly leveraged, there was excessive animal spirit,
now we can go through stress,” Tidjane Thiam, the chief executive of
Credit Suisse (CSGKF), said in Davos.
While disastrous for some, tumbling prices of oil and other commodities
support growth in India, China, and Europe. Consumers cheer the low
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