Replay Videos

Replay: State of the global economy

Wednesday, July 29

Tim Ringgold

Will China overtake the USA as the world’s largest economy? Will Russia recover from its economic crisis? Will the Trans-Pacific Partnership create opportunities for U.S.-based companies? Will Greece leave the Eurozone? To these and other questions about the global economy we may simply ask, “Why should small businesses care?” The global economy is still struggling to gain momentum as many high-income countries continue to grapple with legacies of the global financial crisis and emerging economies are less dynamic than in the past. Global growth last year was lower than initially expected and remains sluggish this year. While activity in the United States and the United Kingdom has gathered momentum as labor markets heal and monetary policy remains extremely accommodative, the recovery has been sputtering in the Euro Area and Japan as legacies of the financial crisis linger, intertwined with structural bottlenecks. China, meanwhile, is undergoing a carefully managed slowdown. Disappointing growth in other developing countries in 2014 reflected weak external demand, but also domestic policy tightening, political uncertainties, and supply-side constraints.

Nexus: G-WEBCD3