THE current turmoil in the global financial markets caused by the US subprime problem has thrown up an underlying structural problem in the global economy, said Prof Michael Spence of Stanford University.
Savings are at a very high rate and countries are running large surpluses. This money is flowing back into the global capital markets at very favourable interest rates.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!