.... Countries such as China that had never embraced the Washington consensus – or, like much of Asia, rejected it after its own crisis – fared well. It was obvious that UK and US government
borrowing rose as a consequence of recession rather than being its cause; nor could governments be blamed for the vertiginous growth of private debt and bank balance sheets in the decade before the crisis. ...
[Read full article on Guardian
Saturday 12th of August 2017 11:05:01 PM