The Changing Economic Environment and Mutual Interdependence of Economy

Most countries of the world for long period have lived in a golden age of rising incomes and improving living standards. A number of factors suggest that the soft-landing scenario outlined above could be destroyed. The past few years of very strong growth have generated a number of tensions in the global economy, including increased commodity and asset prices (notably those of oil, metals and housing) and a buildup of inflationary pressures.…