we see the four points

Because debt and especially bank
lending creates liquidity, by the way,
stalling or diminishing the loan creation
indicates that there is less liquidity in
the world economy, which leads
to global deflation and recession.
The major central banks have been
battling this trend since
the crisis of 2007 - 2008.

The plausible explanations for the declining international debt issuance include according to GnS:








-. Geopolitical tensions are increasing.
-  Debt securities and cross-border lending are returning to their long run &natural trend from the debt-fueled boom in the late 1990’s and early 2000’s.
- The world economy has been in a slowly moving crash since 2008, which can pick up pace at any moment.
- Combinations of the above.
Every explanation spell troubles for the global asset markets and GDP growth.

The central banks believe that everything will be fine by doing large recovery. It is one kind of planned economy. It most be do well, and bank have to do the right thinks.
I believe that the main problem is a lack of leadership. Read more by Huffingtonpost:
World economy has seen an uneven and sluggish recovery from the financial crash.

While the average annual GDP per capita growth was 2.3 % from 1994 to 2008 - 1991-1993 there was a global recession - this growth was only 1.5 % from 2010 to 2.015.

Man will not live from only GDP growth, say those who have seen this growth.