Another global crash on the horizon as the world’s economic engines sputter


Source: scmp.com scmp.com

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“Mayday, mayday. Three engines are failing and the fourth is misfiring. We are losing speed and altitude fast and heading for a hard landing.” An SOS like this might suggest an aircraft about to plunge to its doom, but, in fact, it describes the plight of a global economy in severe distress. While not using those exact words, this is the gist of what the International Monetary Fund (IMF) says in its latest World Economic Outlook about the rapidly deteriorating state of the global economy. The hard landing is all but certain to be an economic recession or even a...