-
World in 2014 is better…but not good enough: El-Erian
Although its only mid-January, 2014 is shaping up to be a better year for the global economy – indeed, probably the best since the 2008 global financial crisis. Growth is picking up as the advanced countries heal and emerging markets stabilize. Unemployment rates are trending down. Strengthened prudential supervision and regulation have lowered the risks of another financial crisis. There are genuine hopes that companies will convert more of their massive cash holdings and record profitability into higher investments in plant, equipment and people. And the improved economic context gives central banks a better ... (full story)