Economic news Embassy 59
FCO Chief Economist at YDL
Shamik Dhar, who heads the FCO’s economic unit, set out to YDL members the risks facing the global economy that are shaping UK foreign policy and setting export targets.
These include prolonged secular stagnation, particularly a lack of demand in Europe; a possible overreaction to future US interest rate rises; a Greek exit from the Eurozone; and a slowdown in the Chinese economy and other BRIC economies.
But he said the rise of new technologies may counterbalance the negative economic forces.