In the footsteps of Sisyphus : the global economy in 2019-20

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      <subfield code="a">In the footsteps of Sisyphus</subfield>
      <subfield code="b">: the global economy in 2019-20</subfield>
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      <subfield code="a">In Greek mythology, Sisyphus was pun-ished for his pride, sentenced for eternity to roll a boulder up a hill, only to see it roll down again. The analogy with the world economy in 2019 is striking. Be-tween 2015 and 2018, the world econo-my, like Sisyphus, committed a sin of pride by constantly deferring its natural condition of evolving in a low growth- low inflation regime, post the sub-prime crisis. Those four years saw a succession of gigantic stimulus packages and un-conventional monetary policy in Europe (2015), the U.S. and China (2016, 2018). Now, a day of reckoning has come. The anger of the gods has materialized in a U.S.-China dispute embodying a so-called trade feud scenario, which has and will continue to impair the world trade and investment cycle.</subfield>
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