As reported by the independent, Mr Economy has spent much of the past seven years in an induced coma, with only a modest recovery from the Great Recession. The root causes of the life threatening 2008-09 episode remain unaddressed. Debt levels are higher now. Global imbalances remain. The financialisation virus has proved resistant to available medicines. Structural changes have proved difficult.

Growth, a vital sign, remains below trend. The IMF has slashed global growth forecasts four times in the past year. A medical board inquiry to investigate its fitness to forecast has commenced.

Trade growth, another key indicator, is weak. In recent history, trade growth has averaged double economic growth rates. But now trade growth is below economic growth rates, suggesting there are further falls in activity to come.

Mr Economy remains on life support. He is stable but the prognosis is uncertain.

bbabo.Net