Picking up the pieces: how to tackle the next phase of the Covid crisis
The global economy is heading into dangerous territory, writes Jagjit Chadha
The two-year interruption to the normal pattern of world trade and growth may finally be coming to an end this spring as we appear to have shrugged off the most dangerous variants of Covid-19. The stimulus from monetary and fiscal policies that limited the impact of lockdowns on the global economy and supported the strong recovery from the sudden stop of the pandemic must now be re-oriented.
The immediate priority is to address burgeoning levels of public debt and substantially negative short
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