01.17.2014 12:31

Breaking Out Is Hard

The world's major economies understand the structural changes they need to make to ensure growth, but it's easier to wait for someone else to act first
By Andy Xie
 

The global economy is unlikely to accelerate in 2014. The hope that the U.S. economy is reaching escape velocity won't pan out. Abenomics is likely to fizzle out in 2014. Emerging economies will likely remain in low gear. The chances are that the global economy, weighted by nominal GDP at current exchange rates, will grow at 2 percent

Globalization, turbo-powered by information technology, has cut short the feedback loop between demand stimulus and supply response. Any growth response to demand stimulus is short-lived, as past five years has demonstrated.

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