Jean Pisany-Ferry, “The Great Macro Divergence”
A bit dry maybe, but this is a useful read to understand why all advanced economies are neither structurally nor cyclically aligned. As a consequence, they are unevenly vulnerable to recession, making international policy coordination both more necessary and more difficult. The main risks that could intensify the current slowdown: a more aggressive US monetary tightening; a further escalation of protectionism; a harder-than-expected economic landing in China; and a return of tensions in the Eurozone (reads in 5-7 min).

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