The chief economic adviser for Allianz shares his outlook for the global economy

Source: www.businessweek.com

"We could also get a market accident. There’s been a tremendous amount of risk-taking, largely because investors believe central banks will support the markets in a crisis—not because they love markets, but because they’re using them to pursue their economic objectives. As a result, many markets are trading far above levels warranted by fundamentals. That means we tend to get very sharp corrections, as we did in May and June of 2013, and in September and October of this year, that also undermine the functioning of the markets."

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