Global growth is accelerating, but before we break out the champagne we should acknowledge the long-term risks to sustained expansion.
For Michael Heise's latest contributions to The Japan Times, see below:
With the European Central Bank's expansionary policies having failed to push inflation rates back up to the authorities' target of "below but close to 2 percent," some economists are now advocating "helicopter drops."
With regard to global rebalancing, the German consumer is a sideshow. What is needed is an investment surge in Germany and Europe, and a coordinated exit from ultra-loose monetary policies.