The 2020s are set to be an economic turning point, says global banking giant
ABC News
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"The 2020s are set to be a decade of dramatic economic and social upheaval, reversing many of the trends of the past 40 years, according to one of the world's largest banks.
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In what it describes as "the decade of peak", Bank of America Merrill Lynch (BAML) analysts say a range of economic and social challenges are "all heading to a boiling point" next decade.
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"We enter the next decade with interest rates at 5,000-year lows, the largest asset bubble in history, a planet that is heating up, and a deflationary profile of debt, disruption and demographics," the report warns.
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"We will end it with nearly 1 billion people added to the world, a rapidly ageing population, up to 800 million people facing the threat of job automation and the environment on the brink of catastrophic change."
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As these problems mount, the bank's investment strategists say many long-established trends will peak, before reversing.
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It is forecasting peak globalisation, as governments seek to reassert sovereignty over trade and investment flows across borders, as already emerging through Donald Trump's trade war with China, the dispute between Korea and Japan and the rise of nationalist politicians in many countries. ..... "
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The 2020s are set to be an economic turning point, says global banking giant
ABC News
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