Fund too polite to point out political dangers in US
Published 12/04/2011 | 05:00
THE IMF's latest health check for the world economy is very different to reports we have become used to since Lehman Brothers went wallop.
Even six months ago, the global lender was still fussing about the threats posed to the industrialised world from the banking crisis and recession. Yesterday, those fears had all but vanished, to be replaced by worries that emerging economies are overheating.
It is hard not believe that this is the case when China and India are expected to grow 9.6pc and 8.2pc respectively, but the IMF still believes there is time for these countries to cool down without too much damage to either their own populations or the rest of the world.