New Zealand’s history of inflation, recessions and unemployment offer clues to what might happen next. Coupled with global events, the outlook is not promising.
Emerging economies such as Brazil, Egypt, India, and Indonesia are vital global players. Saving them from possible debt default may improve the world’s resilience against the looming global recession.
The collapse of an obscure corner of the financial market a decade ago foreshadowed the Great Recession. The stock-market swoon in February should offer a similar warning.