The coming Chinese sneeze4 min read . Updated: 23 Feb 2014, 08:39 PM IST
As China shifts towards consumption-driven growth, the rest of the world cannot escape a difficult adjustment
It is an interesting time to take stock of the global economy. It used to be said that when America sneezes, the rest of the world catches cold. The events of last year suggest anything but the same. It is now the case that when America recovers, the rest of the world catches cold. This reversal is due to the fact that good news for the American economy is bad news for global liquidity.
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