According to estimates by the United Nations, the global economy expanded by 3.8% last year, continuing the strong performance recorded since 2003. Led by China and India, developing countries were prominent among the best performing economies, expanding by 6.5% on average in 2006. But can this apparently benign pattern of global growth be sustained, particularly since growth has been accompanied by ever-widening global financial imbalances?
According to estimates by the United Nations, the global economy expanded by 3.8% last year, continuing the strong performance recorded since 2003. Led by China and India, developing countries were prominent among the best performing economies, expanding by 6.5% on average in 2006. But can this apparently benign pattern of global growth be sustained, particularly since growth has been accompanied by ever-widening global financial imbalances?