The world's US$1.8 quadrillion balance sheet has a simmering problem

Photo: New Straits Times

LONDON: The vast riches comprising the world's US$1.8 quadrillion financial balance sheet may speak to the rude health of the global economy. But the rapid expansion of household net worth to some US$570 trillion last year is increasingly being driven by paper equity values, drifting away from tangible asset values and underlying economic performance.

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