Emerging market economies have been an engine
of global growth during the 2000s, especially after the 2007-08 global
financial crisis.
However, times are changing. Growth rates in several emerging
market economies have been declining since 2010.
The global economy will need
to adapt to a new period of more modest growth in large emerging markets,
characterized by lower commodity prices and diminished flows of trade and
capital. This is the message that underlies this issue of the World Bank
Group’s Global Economic Prospects.
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