Far from recovering, the global economy is in the early stages of a protracted and severe downturn, writes The Guardian’s Larry Elliott: ”But it was always inevitable that, sooner or later, globalisation would run into a crisis, and what we have seen in the past two years is just the start of it. Don’t be fooled by the sucker’s rally of the past six months – Americans are once again running down savings to consume goods they can’t afford; China’s exports are booming.” Click here for the full story.
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