A new study points to income inequality (the gap between those making most of the income and those making the least) as one of the main culprits for a country’s lagging economy.
China will overtake the U.S. economically in just five years, according to the latest International Monetary Fund (IMF) forecasts. On MarketWatch, The Wall Street Journal’s Brett Arend reports that new IMF data indicate that the rise of China as the world’s No. 1 economic superpower will take place in 2016, far earlier than traditionally predicted.
This week’s report that the S&P index has cut its outlook on America’s credit future from “stable” to “negative” was clouded by questions of the index’s credibility. But a more objective voice has entered the fray to underscore the S&P’s analysis.
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