The great Hans Sennholz writes about the future of the economy circa December 2006
“We live in a period of worldwide economic expansion and prosperity. The world economy is said to grow this year at some five percent, which will be the third year above the historic average. Even if, in the coming year, the growth rate should decline a little, the global economy looks bright and prosperous. Led by some Asiatic countries, especially China and Japan, more countries than ever before are reporting rapid economic expansion.
But no matter how bright the economic outlook may be, the international prosperity is exposed to a looming risk, which has even grown in recent months.”