The next recession

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The next recession

机译：下一次衰退

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JUST a year ago the world was enjoying a synchronised economic acceleration. In 2017 growth rose in every big advanced economy except Britain, and in most emerging ones. Global trade was surging and America booming; China's slide into deflation had been quelled; even the euro zone was thriving. In 2018 the story is very different. This week stockmarkets tumbled across the globe as investors worried, for the second time this year, about slowing growth and the effects of tighter American monetary policy. Those fears are well-founded.

机译：就在一年前，世界正享受着同步的经济增长。 2017年，除英国和大多数新兴经济体外，所有大型发达经济体均实现增长。全球贸易激增，美国蓬勃发展。中国陷入通货紧缩的局面被平息了；甚至欧元区也很繁荣。在2018年，故事大相径庭。由于投资者今年第二次担心增长放缓和美国收紧货币政策的影响，本周全球股市暴跌。这些恐惧是有根据的。

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《The economist》 |2018年第9113期|a3-a5|共3页
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The next recession

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