The International Monetary Fund (IMF) is more optimistic about global recovery than in July, while urged countries to take the upswing to carry out reforms to support inclusive and sustainable growth, China`s Xinhua news agency reported.
“The long-awaited global recovery is taking root,” said IMF Managing Director Christine Lagarde in a speech ahead of the IMF/World Bank annual meetings.
In July, the IMF expected the global economy to grow 3.5 per cent this year and 3.6 per cent in 2018. Lagarde said that nearly 75 per cent of the world is experiencing an upswing – the broadest-based acceleration since the start of the decade.
Besides the acceleration in global growth, financial stability is improving as the banking system is more stable and market confidence increases, said Lagarde.
“We are seeing some sun break through - but it is not a clear sky,” said Lagarde, citing high levels of debt, excessive risk-taking in financial markets, and heightened geopolitical tensions as threats to the global recovery.
Lagarde called on countries to take advantage of the upswing to undertake reforms, such as investing in education, research and development, as well as infrastructure in order to boost productivity and foster inclusive growth.
The IMF research warned that weather impacts may have lasting effects on economies. The report, released at the end of September, points back to the unprecedented rise in global temperatures over the last 40 years and warns that the increasing global temperatures may end up lowering output, particularly...
The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth.
For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory in Antarctica, the same opportunities on Mars would not be considered a part of the world economy - even if currently exploited in some way - and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention. Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.
It is common to limit questions of the world economy exclusively to Human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and prostitution, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.
for September 2017
|OIl (Brent), $/bl||55.48||7.02%|
|Oil (WTI), $/bl||49.76||3.52%|
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