Divergence.

• IMF’s recent World Economic Outlook places its current assessment of the world economy in the context of 10 years since Lehman Brothers collapse…. Depressing reading.
• Growth expectations are downgraded as expected following trade disputes and nationalist and populist pressures.
• And the IMF fears that much of the traditional fiscal and monetary policy actions have become in-effective and blunt tools.
• However we should not forget that the big economic blocks are in different stages of their business cycles and divergence between markets is to be expected.
• Such divergence offers also opportunities.
• However: there is no room for playing the hero!
  
  

For the complete article by Bart Le Blanc, please see the attachment.

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