A good essay by Nouriel Roubini. I liked his line that “as everyone kicks the can down the road, the can is getting heavier.” But this is section that caught my eye:
Ineffective governments with weak leadership are at the root of the problem. In democracies, repeated elections lead to short-term policy choices. In autocracies like China and Russia, leaders resist the radical reforms that would reduce the power of entrenched lobbies and interests, thereby fueling social unrest as resentment against corruption and rent-seeking boils over into protest.