Although the financial crisis of 2008 began with US banking, it led to one of the deepest global recessions since the Great Depression.
“The IMF has warned that governments and regulators failed to push through the reforms needed to protect the system from reckless behaviour. Economists say we are approaching conditions ripe for another financial crisis, followed by a global recession.”

For more on this article by written by Kenneth Rogoff & Ross Chainey, visit the website for the World Economic Forum at the following link: