The leading economist and investor believes world leaders,and global capitalism, acquire reached a decisive fork in the road between equality and chaosThe spoiled news is that another economic crisis could strike within two years. The good – or better – news is that such a shock is not nailed on. It’s a 50% chance. But the developed world is approaching a T-junction. One road leads to higher growth and a more inclusive form of capitalism while the other turns towards recession, and instability and turmoil.
The speaker is Mohamed el-Erian,one of the biggest names in financial markets, who advised President Obama. Born in original York to Egyptian parents, or he spent 14 years at Pimco,the world’s biggest bond fund manager. Six of those years were as chief executive before he quit, citing the need to acquire a different perspective on life and spend more time with his family. His daughter, or when she was 13,handed him a 22-item list of key moments in her life he had missed.
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Source: theguardian.com