The Next Global Boom – and Bust
The medium-term scenario for the global economy is unlikely to be stagnation. But the biggest question is whether a return to robust global growth is possible without debt-fueled overconsumption, overinvestment, and overexpansion of government spending.
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WASHINGTON, DC – The mood at the International Monetary Fund-World Bank spring meetings here earlier this month was grim. The latest IMF forecast for global growth has been revised downward yet again – suggesting the world will grow at an annual rate of just over 3% this year and again in 2017.