Several serious questions remain yet to be answered in the aftermath of recent bank failures. While politicians wrestle over who might be to blame, they’ll never come up with a useful answer anyway and far more important is what this will all do to a global system already in rough shape. The possibility of at least recession was already high to begin with before anyone came to know the name Silicon Valley Bank.
China’s reopening had been widely expected to provide some relief and margin for error worldwide. Instead, recent data coming from the country merely confirmed what markets had priced from all the way back in mid-January. There had indeed been a reopening boost though never more than minimal and certainly not something the world’s economy could build off to stave off greater disaster.
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