If you believe���as so many do���that one important sourc...

If you believe���as so many do���that one important source of the disaster of 2008-10 was that economies had too much potentially-insecure debt, you should be highly concerned today: John Authers and Lauren Leatherby: Financial Crisis: Decade of Deleveraging Debt Didn���t Quite Work Out: "This was the decade of de-leveraging that wasn���t. A decade ago... there was agreement... too much debt had caused the crisis, and so there must be a huge de-leveraging. It has not worked out like that.... Companies, particularly in the U.S., took advantage of the rock-bottom interest rates meant to bail out banks to go on their own borrowing spree. And the world found a new borrower of last resort. Ten years ago, China had been enjoying phenomenal economic growth for two decades, and largely avoided debt to fund it. No more. China���s debt has ballooned, transforming the geography of global debt in the process. It���s now bipolar, revolving around the U.S. and China...

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