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The Answers: The Global Economy by Jeremy Kourdi

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Megatrend: Age of very moderate growth and highly volatile economic growth

We have had more economic crises in the last 35 years than in the previous 350 years (Kindleberger). Quite a few things have contributed to this unusual volatility, including the recent big global crisis (from which we still have not really recovered). In the past decades we have been living in an age of massive deregulation of financial markets. Things such as “securitization” of risk, free flows of often speculative capital to currencies, commodities and other asset classes, liberalization of short-term capital flows even for the poorest markets, the rise of financial instruments that few authorities understand, selling of so-called triple-A-rated securities to unsuspecting ...

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