Don’t Count on a Soft Landing for the Global Economy
Despite analysts’ increasingly optimistic forecasts for the coming year, the risks to global growth are still tilted to the downside. In fact, recent developments in China, Europe, and the United States suggest that the world economy’s biggest challenges may lie ahead.
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CAMBRIDGE – A month into 2024, the consensus forecast for the global economy remains cautiously optimistic, with most central banks and analysts projecting either a soft landing or potentially no landing at all. Even my colleague Nouriel Roubini, famous for his bearish tilt, regards the worst-case scenarios as the least likely to materialize.