The head of one of the world’s largest sovereign wealth funds wants to get one thing straight -- markets are becoming increasingly dire and investors face a very uncertain future.
Lim Chow Kiat, the chief executive officer of Singapore’s GIC Pte, has again sounded the alarm about the state of the world’s economy, decrying populism, trade protectionism and a decline in the ability of governments and markets to deliver broad-based prosperity.
“In these factious times, investors are hard put to find their footing,” he said Thursday at the start of GIC Insights, the group’s annual thought leadership event. “They face rising uncertainty but falling returns. By some measures, uncertainty about economic prospects is currently highest on record. Further, policy makers seem to have limited ammunition to reflate economies.”
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