Since 1960, only a few countries in Latin America have narrowed the gap between their per capita income and that of the United States, while most of the region has lagged far behind. Making up for lost ground will require a coordinated effort, involving both technocratic tinkering and bold political leadership.
explain what it will take finally to achieve economic convergence with advanced economies.
Between now and the end of this decade, climate-related investments need to increase by orders of magnitude to keep the world on track toward achieving even more ambitious targets by mid-century. Fortunately, if done right, such investments could usher in an entirely new and better economy.
explains what it will take to mobilize capital for the net-zero transition worldwide.
新加坡—最近在中国发生的金融动荡——银行间贷款利率在几天时间里飙升到两位数——进一步确认世界第二大经济体迈向了硬着陆。在大规模信用增长的推动下(2008—2012年间相当于GDP的30%),中国经济的金融杠杆率已是新兴市场之最。这不会有好结果。
事实上,野村证券的一份最新研究发现,当下中国金融风险轮廓与泰国、日本、西班牙和美国在金融危机前夕惊人地相似。所有爆发危机的经济体在信用泡沫破裂前夕的五年中,金融杠杆率——国内信用与GDP之比——都升高了30个百分点。
坚持认为中国金融杠杆率并不太高的经济学家是日渐凋零的少数派。显然,中国人民银行认为金融杠杆已经升到了危险的水平,6月份,为了抑制贷款增长,中国人民银行发动了一次信用紧缩。
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