Knot backs advanced economies to buck secular stagnation


The president of the Netherlands Bank, Klaas Knot, believes another period of "rapid technological change" will save advanced economies sinking into "secular stagnation".

Speaking in Amsterdam, Knot acknowledged that advanced economies "have been struggling", but rejected the idea they had entered a "new era" characterised by permanently lower growth rates.

He drew parallels between the prevailing economic conditions now, and the 1930s depression in the United States. During that period fears of

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