The Global Economy Is Worse Than We ThoughtA Story by heavenwaltraudOver the last several years, as major advanced markets like the United States and Europe struggled, fast-growing countries like China and India provided a vital boost to the global economy. Well, so mOver the last several years, as major advanced markets like the
United States and Europe struggled, fast-growing countries like China and India
provided a vital boost to the global economy. Well, so much for that. In a new report released on
Tuesday, the International Monetary Fund says that China, India, Brazil, Mexico
and other developing countries are growing more slowly than previously thought.
That weakness, combined with Europe’s enduring recession and middling growth in
the United States, means the global economy will grow at 3.1 percent this year,
about the same as last year and down from the I.M.F.’s April forecast of 3.3
percent. Developing economies are struggling for a variety of
reasons. Some, like Brazil and Russia, are hurting because there is less demand
for their exports in the United States, Europe and elsewhere. China is trying
to reduce its reliance on exports and investments while increasing the
importance of domestic consumer spending. Some countries are also under
pressure as foreign investors start moving money out of emerging markets to
invest it in the United States, where interest rates have risen in recent days. READ FULL ARTICLE AT NYTIMES.COM © 2013 heavenwaltraud
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Added on July 12, 2013 Last Updated on July 12, 2013 Tags: the global economy is worse than |