A woman passes a bank currency advertisement in Seoul, South Korea, on September 23. Photo: AP
A woman passes a bank currency advertisement in Seoul, South Korea, on September 23. Photo: AP
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

The global economy is collapsing, and neither the banks nor governments can save it

  • With interest rates rising, markets are waking up to what central banks already know: that inflation isn’t coming down and there won’t be a swift return to easy money
  • This policy unravelling is going to be painful, but may be necessary to purge the worst excesses of the past decade

A woman passes a bank currency advertisement in Seoul, South Korea, on September 23. Photo: AP
A woman passes a bank currency advertisement in Seoul, South Korea, on September 23. Photo: AP
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