Welcome to the second instalment of my report on the global economy. In Part I: Why Can't They See It?, we looked at what stops the US from returning to 3.5% real average annual GDP growth rates as between 1950 and the first half of 2000.
In Part II: A World Without Growth?, I argue that the world is unlikely to return to pre-2007 trend growth rates anytime soon and that the risks remain to the downside.
Economists and journalists screaming at you from every corner "boom", the US President tweeting the economy perhaps is better than it has ever been, when we look deeper however, we cannot help but notice larger cracks emerging that point to a major structural issue.
This is the first part in a series of reports on the strength of the global economy and the stock markets. Part I is what prevents the US, the strongest of the large economies, to return to real annual GDP growth rates that averaged 3.5% from 1950 to the first half of 2000?