Look to the East, look to the West…………..
The last two weeks has seen elections the two largest global economies with the USA re-electing Obama for a second term and in China, the once-a-decade major communist congress electing a new prime minister, new senior politicians and implementing the next 10 year plan. What does this mean for Europe? With Obama having to tackle the serious fiscal deficit in the $trillions focusing on the American people, and the Chinese looking to double GDP by 2020 and improve the income of all its population, will either country really be concerned about the trials and tribulations of the Eurozone economies, including the UK? It looks like a long hard struggle for the Europeans and unfortunately for their populations, austerity is set to continue for some time yet, confirmed by the latest quarterly GDP figures showing negative growth.