It is hard to imagine that the global economy, with the exception of China and a few others, will enjoy anything beyond a dead cat bounce next year. This does not appear to have sunk in yet with many people – stock market investors especially – who are hoping for a fairly robust recovery in 2021 and beyond.
But this is not going to happen. What is needed is what the United Nations referred to in a recent report as “transformative change”.
We face a new economic reality, with growth restored…
Read the original article at South China Morning Post