Sunday, May 29, 2016

Japan's prime minister is warning world leaders about a 'Lehman-scale crisis'

ISE-SHIMA, Japan — Group of Seven leaders voiced concern about emerging economies on Thursday as their host, Japanese Prime Minister Shinzo Abe, made a pointed comparison to the global financial crisis eight years ago.

Abe presented data showing that commodities prices had fallen 55% since 2014, the same margin they fell during the global financial crisis, Nikkei reported, interpreting this as "warning of the re-emergence of a Lehman-scale crisis."

Abe said the G-7 leaders agreed on the need for flexible spending to spur world growth but the timing and amount depended on each country, Deputy Chief Cabinet Secretary Hiroshige Seko told reporters, adding that some countries saw no need for such spending .... http://www.businessinsider.com