Relatively few Americans say they're very or extremely confident that they could pay an unexpected medical expense (26%) or have enough money for retirement (18%), a Poll revealed.
Alongside human suffering, depressing developments in the Middle East pose risks for an already weak global economy.
IMF's Managing Director noted that the World Economic Outlook, which was released earlier this week but drafted before the conflict broke out, already showed weak global growth.
Several factors are in place for the return of stagflation in the world’s largest economy, which could accelerate the decline of the dollar as the world’s reserve currency.
“BRICS nations have a long way to go to transform themselves into a unified global organisation that can effectively challenge the present polarisation in the world economy,” Sreenivasan said.
The UK's position perhaps provides a guide to America's (the current global empire) fate. There are similar economic susceptibilities -- high debt, lagging infrastructure, problems of inequality...