In April 2010, when the global economy was beginning to recover from the shock of the 2008-2009 financial crisis, the International Monetary Fund’s World Economic Outlook predicted that global GDP growth would exceed 4% in 2010, with a steady annual growth rate of 4.5% maintained through 2015. But the forecast proved to be far too optimistic. In […]
India’s recent fall from macroeconomic grace is a lamentable turn of events. After many years of outperformance, GDP growth has slowed sharply. Annual output will most likely rise by less than 5% this year, down from 6.8% in 2011 and 10.1% in 2010. Reform has stalled amid profound political paralysis. All of the major emerging […]
Predictions of the date may differ, but the general consensus on Japan remains the same. In a matter of just three to 10 years, the world’s third-biggest economy may start running out of the savings needed to fund its massive public debt. Is it time to start selling yen, or are the doomsayers off target […]
Four years after the start of the Great Recession, the global economy has not recovered, voters are losing patience and governments around the world are falling like ninepins. This is a situation conducive to revolutionary thinking, if not yet in politics, then maybe in economics. In the past few months the International Monetary Fund, previously […]
The global economy is facing its third major brake on expansion in five years as emerging markets slow from China to Brazil, provoking debate about how much policy makers should respond. Three years after industrializing nations led the world out of the U.S. mortgage meltdown-induced recession, the reliability of the power source is waning as […]
Federal Reserve Chairman Ben S. Bernanke tried to refute arguments the U.S. central bank’s record stimulus is causing destabilizing flows of capital to emerging-market economies. “It is not at all clear that accommodative policies in advanced economies impose net costs on emerging market economies,” Bernanke said today in prepared remarks for a seminar in Tokyo on the last day of […]
China and Japan, the world’s second- and third-biggest economies, indicated support forEurope’s new rescue fund as they pushed for quick implementation of measures to solve the region’s crisis. China will “cooperate” with the European Stability Mechanism, a permanent 500 billion-euro ($648 billion) fund that started this week, People’s Bank of China Deputy Governor Yi Gang said […]
The directors of the International Monetary Fund and the World Bank return to Tokyo this week for their annual meetings after a gap of 48 years. It’s a different Japan. The ageing of the host nation, the rise of China, the “shift” of the epicentre of global growth to mainland Asia, in more ways than […]
The International Monetary Fund cut its global growth forecasts as the euro area’s debt crisis intensifies and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The world economy will grow 3.3 percent this year, the slowest since the 2009 recession, and 3.6 percent next year, the IMF said […]
China isn’t very good at foreign policy; that is the only way to make sense of the apparent decision by a number of large Chinese banks to boycott the annual meeting of the World Bank and the IMF scheduled for Tokyo next week. As the WSJ tells us, the decision comes as a result of the latest flare […]
looking beyond borders 