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WORLDVIEW: Are the wheels coming off the global economy?
Let’s imagine that the global economy is the weather. Right now, we’d be standing in the warm sunshine. But we’d also be looking at the sky.
By Felicity DuncanÂ
Let's imagine that the global economy is the weather. Say we were all on holiday at the beach. Right now, we'd be standing in the warm sunshine. But we'd also be looking at the sky, trying to decide if the gathering clouds on the horizon mean that its time to retreat to our hotel rooms ahead of a storm.
Around the world, stock markets are ending the year in the red. European stocks are down around 10% on the year. In the UK, the FTSE 100 is down close to 10% on the year. And emerging markets have been heavily sold off – the MSCI Emerging Markets Index is down more than 12% year-to-date.
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