The Global Economy in 2018

Delivering sustainable economic growth
Posted Nov 30, 2017 | Council on Foreign Relations, Michael Spence

The global economy will face serious challenges in the years ahead, with debt causing market nervousness that, in turn, will increase vulnerability to destabilising shocks. Yet the baseline scenario seems to be one of continuity, with no obvious convulsions on the horizon. In this article for the Council on Foreign Relations, Michael Spence suggests that developed and developing economies need more inclusive growth patterns as national governments may take a back seat to businesses, subnational governments, labour unions, and educational and non-profit institutions in driving progress, especially in places hit by political fragmentation and a backlash against the political establishment.


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