Outlook for the Global Economy
Mumbai- 1 June 2016- Dr Paul Sheard gave a very holistic view about four major economies, US, EU, Japan and China. He delved into what is the current state of these economies as opposed to during the global economic recession. The US GDP is 10% higher than what it was during the global recession and is growing at a little over 2%. The US market is doing well with the Federal Reserve being cautious and working on the monetary and fiscal policy. In the EU, the ECB is giving a monetary stimulus to the Eurozone. Dr Sheard spoke about Abenomics when he spoke about Japan. He said that the two main pillars of Abenomics was focusing on monetary and fiscal policy to eliminate deflation and focus on increasing growth. As for China, he spoke about the slowing economy. A major reason being the rebalancing act by the country. Dr Sheard maintained that he is quite positive about India as it is an early stage of development.
As reported by Karishma Talwar, Programme Officer, Asia Society India Centre
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