Hobble and Muddle
The world economy will remain unusually fluid – systemically interconnected, but increasingly fragmented cognitively over the next 3-5 years, and thus plagued by weak global governance and policy coordination. In this environment, those who seek to benefit from change could easily fall victim to it.
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NEWPORT BEACH – Colleagues from around the world recently gathered at PIMCO’s headquarters in California for our annual Secular Forum, when we leave behind high-frequency issues for a few days and, instead, debate what the next 3-5 years hold for the global economy. The perspective is global, informed by the insights of outside speakers, and the focus is on what is likely to happen, as opposed to what should happen.