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Published online by Cambridge University Press: 26 March 2020
• The global growth rate is expected to exceed 5 per cent this year with growth continuing at above 4½ per cent per annum into 2008.
• Over the second half of this decade France, Germany and Japan are expected to perform better than the United States.
• Adjustment in the United States housing market is unlikely to lead to a recession there.
• Investment rates in China are very high. A sharp reduction in Chinese investment would have a clear impact on growth in the developed countries.
• Inflation is expected to rise slightly in the Euro Area and Japan but to decline in the United States.