Opinion: we need to escape from this apparently relentless cycle
The People’s Bank of China headquarters in Beijing. Photograph: Petar Kujundzic/Reuters
Huge expansions in credit followed by crises and attempts to manage the
aftermath have become a feature of the world economy. Today the US and
Britain may be escaping from the crises that hit seven years ago. But
the euro zone is mired in post-crisis stagnation and China is struggling
with the debt it built up in its attempt to offset the loss of export
earnings after the crisis hit in 2008... (Read more)
