And a poor weather forecast today is threatening to ruin the Twenty20 Finals Day which could spill over
into a reserve day tomorrow for the first time on its 10th anniversary.
She also challenged the view that unconventional monetary actions have fundamentally distinctive spill over
effects on the rest of the world, as they work through the same channels and in similar magnitudes as conventional policies.
Civil wars in Lebanon will no doubt have spill overs
in Jordan and the Gulf.
If there is a civil war therein Afghanistan, there is all likelihood that its spill overs
will affect security of Pakistan.
Before the crisis, the authorities had few policy levers to provide liquidity or to resolve failures of nonbanks in a way that would avoid serious spill overs
. One could also imagine requiring some non-banks to maintain buffers of highly liquid assets that are sized according to the risk that their liabilities will run off quickly in a stress situation.'
Countries in the West Region have already taken strides in driving economic growth by stimulating innovation and knowledge spill overs
. Kuwait has been one of the top movers in WEF's Networked Readiness Index, with substantial improvements in ICT usage and impact, largely driven by high business and individual adoption levels and aligned with its New Kuwait 2035 Vision's plan for transforming itself into a digital society and economy.
"China is also unlikely to continue its upward growth trend as the authorities gradually move to slow lending and curtail financial risks, generating negative spill overs
to other EMs.
But reforms could also spur increased financial risk taking and, in some sectors, could raise leverage from already-elevated levels," it said Meanwhile for emerging market economies, they have "continued to enhance their resilience" through "lowering corporate leverage and reducing external vulnerability." Their growth is expected to improve and will be driven by gains for commodity exporters and positive growth spill overs
from advanced economies.