Restructuring the Global Economy

I watched the discussions in CNBC with investment experts who monitor the economic news in USA and the financial markets. These experts listen to the economists, including speeches by the Fed chairman Ben Bernanke, and gave their views.

They are pessimistic about the ability of the US to create jobs, in spite of near zero interest rate and the large amounts of quantitative easing, i.e. printing of money. There is no confidence and insufficient consumer demand. In this environment, businesses are reluctant to expand capacity and create employment.  One influential person, the co-CEO of Pimco, Mohamed El-Erian said that the global system needs to be "re-structured".

I agree with his view about the need for re-structuring. We need to get away from the unbridled globalisation that is causing the damaging international competition and the wide disparity of income - both of which have got out of control.

My views on the areas that need to be re-structured are set out in this article:
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Tan Kin Lian