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肆虐市场的风暴结束了吗?

发自拉古纳海滩——今年早些时候,世界各地的金融市场都被迫在一场完美风暴中艰难航行——这是一场由众多小型干扰因素的异常合并所助长的暴力破坏。金融震荡加剧,令投资者如惊弓之鸟;股市如过山车般上下翻飞,最终往往是大跌收场;政府债券收益率大幅下降,同时贷款人发现自己处于一个尴尬境地:他们甚至要为持有总额更庞大(占总数近三分之一)的政府债券而额外付钱。

这些干扰因素持续时间越长,受到结​​构性弱点,收入和财富不平等,过度负债,过度负债,总需求不足,以及政策协调不足挑战的全球经济所遭受的威胁就更大。虽然金融市场已经相对恢复了平静,但导致波动的三大因素却尚未在真正意义上被消除。

首先,逐渐明显的中国经济疲软迹象以及该国一系列非典型的政策盲动令人们对全球经济整体健康状况的担忧日益增加。鉴于中国是全球第二大经济体,欧洲和国际货币基金组织的官员们也就迅速反应,分别调低了对本地区和全球经济的增长预期。

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