2min chapter

GZERO World with Ian Bremmer cover image

Fix the global debt crisis before it's too late, warns World Bank's David Malpass

GZERO World with Ian Bremmer

CHAPTER

The 0% Interest Rate Environment in Latin America

Governments aren't doing countercyclical. They're actually going procyclical, meaning they find fiscal responsibility after the fiscal deficits have become huge. So I think governments do need to be countercyclical, but neither on monetary policy nor fiscal policy is that the the the lay of the land. China does that. Remember after 2008, the global financial crisis, they both did monetary and fiscal expansion at that moment in order to come to strengthen. And so I you know that they're an authoritarian regime, which is not going to be in the long run growth enhancing. But at moments, if you make if you make decisions that are stabilizing, that that can help. That's what

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