Business and financial cycles follow expansion, peak, recession and recovery phases. During the low interest rate environment, after the global financial crisis, many nations around the world were in the expansion phase. The "global unsyncing" can be viewed in terms of the financial and business cycles separating, as well as advanced and emerging economies following different paths as the Fed hikes. Central Banking welcomes back Diana Dengo, investment director at Wellington Management, to talk about this phenomenon.

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