Three turning points

In the last two months there were three purported political turning points in three of the world’s largest economies — the US, China and India. The recent US election, it was hoped, would prevent that country falling over the “fiscal cliff”. In China the change of leadership at the 18th National Congress, it was hoped, would lead to rectifying both an “unbalanced, uncoordinated and unsustainable” growth model and “social problems which have increased markedly” in Hu Jintao’s words.

Read Full Story>>