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The ever-shifting global kaleidoscope

First published: The Banker, ‘How to run a bank 2013’, 01/03/2013

Europe is busy dealing with the financial and sovereign crises, while the US has laid the foundations for a recovery. What forces are acting on the global economy and how might these pan out in the next couple of years?

When the financial crisis erupted five years ago, bringing the world’s 20-year credit boom to a violent end, some thought the so-called recovery might last a decade. if that is right, this year marks the halfway stage. The global economy and finance system, however, resemble a kaleidoscope with the pieces in political and economic flux. How they settle remains the subject of conjecture. A number of issues will help shape the world in the next couple of years……more