The world is on a bumpy journey to a new destination and the New Normal.
America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.
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Comments on: "Mohamed El Erian Quotes: America's downgrade may serve as a wakeup call for its policymakers. It is..."
It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.
|Birth:||19th August, 1958|
|Nationality:||American, Egyptian, French|
|Profession:||Chief Executive Officer|
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