Global Growth Cools, Leaving Scars of ’08 Unhealed

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By Peter S. Goodman

Dec. 1, 2018

“If this is indeed the high-water mark of global prosperity, that is likely to come as a shock to the tens of millions of people who have yet to recover from the devastation of the Great Recession.

Slower growth is not going to make anyone feel more secure about the prospect of robots replacing human hands, or jobs shifting to lower-wage lands.”

““It’s a bit like watching a heavily overweight bird try to take off,” … “It staggers to the end of the runway and starts to take off but never really soars.”

The same can be said for the global economy. It is clearly far removed from the terrifying days of the financial crisis. Yet it never really got its groove back enough to generate impressive numbers of jobs, or put meaningful pay increases in the pockets of ordinary people.

And now, despite all that, leaner times are unfolding.“