13 May '11, 3pm

Analysts warn of looming threats to global economic recovery

Analysts warn of looming threats to global economic recovery

SINGAPORE : Analysts warn that looming risks such as large fiscal deficits and high inflation are potential dampeners of economic growth in the global economy. Even the strong economic rebound from the recent global financial crisis of 2008 could not help to reduce such risks. One of the consequences of large fiscal deficits is mounting sovereign debt, and if it goes unchecked, this could spark another financial crisis. Over-borrowing by governments and rising household debts are problems that continue to plague developed economies. The US fiscal deficit currently stands at an estimated US$1.645 trillion, while household debt rose 0.3 percent to US$11.5 trillion for the latest quarter ended March 31. The risk of a credit downgrade on US government debt instruments will be raised if the deficits remain high. Joseph Cherian, Practice Professor of Finance, NUS Business School...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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