The global economy is slowing down. What can governments do about it?

“In December, the US central bank raised interest rates, possibly for the last time this decade” writes Larry Elliott for For countries heavily dependent on exports as a source of growth – China, Germany, Japan and South Korea – falling demand for their goods is bad news.Central banks are getting twitchy.The darkening outlook for global growth is putting pressure on the US president to resolve his trade dispute with China.Yes, he was gloomier about prospects for the eurozone economy, but no, he wasn’t ready to change course yet.

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