Nation and World News By Associated Press | Friday, August 23, 2019, 12:05 a.m. Share this story A boat navigates at night next to large icebergs in eastern Greenland on Aug. 15. (AP Photo/Felipe Dana, File) As global economic picture dims, solutions seem out of reach WASHINGTON — As global leaders gather on two continents to take account of a darkening economic outlook, this is the picture they face: ADVERTISING Factories are slumping, many businesses are paralyzed, global growth is sputtering and the world’s two mightiest economies are in the grip of a dangerous trade war. Barely a year after most of the world’s major countries were enjoying an unusual moment of shared prosperity, the global economy may be at risk of returning to the rut it tumbled into after the financial crisis of 2007-2009. Worse, solutions seem far from obvious. Central banks can’t just slash interest rates. Rates are already ultra-low. And even if they did, the central banks would risk robbing themselves of the ammunition they would need later to fight a recession. What’s more, high government debts make it politically problematic to cut taxes or pour money into new bridges, roads and other public works projects. Making… Read full this story
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