Despite the impressive rebound in China and some other Asian countries, hopes of a V-shaped recovery for the global economy have given way to a realization that the pace of growth is losing steam. More troubling is the material risk of a double-dip recession in some European countries. Understanding why this is happening and reacting accordingly will determine in large part whether, pending the discovery and broad distribution of a vaccine, the world economy faces an even more uncertain outlook – perhaps threatening Asia’s recovery as well. Five lessons are emerging from Europe that are of broader relevance, ... (full story)