Workers work next to solar panels in an integrated power station in Yancheng city in Jiangsu province on October 14. Governments should consider focusing their support on public capital investment programmes, such as Infrastructure building, health facilities, education, and for the alleviation of climate change. Photo: AFP Workers work next to solar panels in an integrated power station in Yancheng city in Jiangsu province on October 14. Governments should consider focusing their support on public capital investment programmes, such as Infrastructure building, health facilities, education, and for the alleviation of climate change. Photo: AFP
Workers work next to solar panels in an integrated power station in Yancheng city in Jiangsu province on October 14. Governments should consider focusing their support on public capital investment programmes, such as Infrastructure building, health facilities, education, and for the alleviation of climate change. Photo: AFP
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

The world economy needs smart stimulus, not just any stimulus

  • IMF’s message to governments is not to withdraw fiscal support, but to redirect it from wasteful programmes into public investment
  • Investors should not be complacent: should the economic recovery falter, asset valuations that are currently elevated will tumble

Workers work next to solar panels in an integrated power station in Yancheng city in Jiangsu province on October 14. Governments should consider focusing their support on public capital investment programmes, such as Infrastructure building, health facilities, education, and for the alleviation of climate change. Photo: AFP Workers work next to solar panels in an integrated power station in Yancheng city in Jiangsu province on October 14. Governments should consider focusing their support on public capital investment programmes, such as Infrastructure building, health facilities, education, and for the alleviation of climate change. Photo: AFP
Workers work next to solar panels in an integrated power station in Yancheng city in Jiangsu province on October 14. Governments should consider focusing their support on public capital investment programmes, such as Infrastructure building, health facilities, education, and for the alleviation of climate change. Photo: AFP
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