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Posts Tagged ‘Kishore Mahbubani’

Why not to expect recovery anytime soon

In Economy, Emerging markets on 05/09/2012 at 7:48 am

(Or “Kishore Mahbubani’s thesis about Asian power proven wrong again”)

It seems likely the long-term recessionary scenario as described by Mr Taylor, Mr Reinhart, and Mr Rogoff is what economies in the West are now experiencing. Within developed markets, the financial sector occupies a larger proportion of the general economy than ever before. In the 1990s and 2000s, the level of private debt on bank balance sheets far outweighed that held by sovereigns, despite a simultaneous increase in sovereign debt levels. Given the greater severity of recession Taylor concludes is likely following a period of both private and public debt accumulation, the damaging effects could go on for some time.

http://www.economist.com/blogs/freeexchange/2012/09/financial-crisis  Warning: very chim

Let’s see if the BRICs and other Asian economies can save S’pore from a recession or slow down¬†like what a certain PAP apologist is implying about the days of ang moh and Jap tua kee are over: now China, India and Asian (ex Japan) tua kee. He got his balls blown-off over Standard Chartered!

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