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Contrary to what a booming stock market might be suggesting, troubles are coming to the world economy not as single spies but in battalions. The United States has a major public finance and commercial property market problem.
China, the
A Troubled World Economy
Summary
- Contrary to what a booming stock market might be suggesting, troubles are coming to the world economy not as single spies but in battalions.
- China, the world’s second-largest economy, is struggling to deal with the bursting of its property and credit market bubbles.
- Germany and France’s struggling economies are beset by dysfunctional politics, while the Italian and French economies are drowning in debt.
Desmond Lachman joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Mr. Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area. At AEI, Mr. Lachman is focused on the global macroeconomy, global currency issues, and the multilateral lending agencies.