The Global Economy Without Steroids
While the fact that the advanced economies are bouncing back is good news for everyone, it raises an important question for emerging economies: Is business-as-usual good enough to compete in this new environment? The short answer is no.
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WASHINGTON, DC – Economic growth is back. Not only are the United States, Europe, and Japan finally expanding at the same time, but developing countries are also regaining strength. As a result, world GDP will rise by 3.2% this year, up from 2.4% in 2013 – meaning that 2014 may well be the year when the global economy turns the corner.