Short-Term Gains, Long-Term Hazards
The year 2017 appears to be ending on a high note, with GDP growth in much of the world continuing to rise, marking the broadest cyclical upswing since the start of the decade. But unless policymakers seize the current opportunity and reform while they still can, the inevitable future slowdown may be closer than we think.
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WASHINGTON, DC – The year 2017 appears to be ending on a high note, with GDP growth in much of the world continuing to rise, marking the broadest cyclical upswing since the start of the decade. Throughout Europe and Asia, and in the United States and Canada, growth expectations have risen, while some important emerging economies that until recently were shrinking – for example, Brazil and Russia – have resumed growth.