Commentary
I have been detailing the problems in the world economy in several of my previous posts. Now, it’s time to explain where it all began and why the situation in the global economy is so precarious. It all starts with China.
As I mentioned before, in late 2016 I was baffled. The world had just recovered from a “mini-recession” to which there seemed to be no obvious reason. Suddenly, in 2015, the world economy just started to cave in without any clear indication from the eurozone and the United States that a recession would be coming. Then, in late 2016, the world economy “miraculously” recovered at breakneck speed. I wondered, what an earth was going on?…