London
CNN
—
With the threat of an unprecedented US debt crisis receding fast, the global economy looks to have dodged a huge shock. But there are still plenty of storm clouds darkening the outlook.
US lawmakers in the House of Representatives passed a bipartisan bill Wednesday to raise the debt ceiling and allow the government to continue to pay its bills. It still requires the approval of the Senate, but the risk of a catastrophic default that could have sparked a global market meltdown has all but disappeared.
While an immediate crisis has been avoided, the litany of problems that had been temporarily overshadowed by the specter of a US default — among them, high inflation,…
