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Asset Management

Jim O’Neill: Finishing the post-crisis job

The west needs real investments, higher productivity and wage growth – not economically unjustifiable profits

The credit crunch that began 10 years ago this week gave way to one of the biggest financial crises in history
The credit crunch that began 10 years ago this week gave way to one of the biggest financial crises in history Photo: Getty Images

August 9, 2017, was the 10th anniversary of the decision by the French bank BNP Paribas to freeze some $2.2bn worth of money-market funds.

Those of us who were active in financial markets at the time remember that event as the beginning of the worst global financial crisis since the Great Depression.

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